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Company's outstanding stock consists of 1 , 0 4 0 shares of cumulative 5 % preferred stock with a $ 1 0 0 par value

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Company's outstanding stock consists of 1,040 shares of cumulative 5% preferred stock with a $100 par value and 10,000 shares of common stock with a $10 par value. During the first three years ation, the corporation declared and paid the following total cash dividends.
\table[[,Dividends Declared],[,& Paid],[ear 1,$2,400
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