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Crane Company declared a $225000 cash dividend. It currently has 11000 shares of 4%, $100 par value cumulative preferred stock outstanding. It is one year

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Crane Company declared a $225000 cash dividend. It currently has 11000 shares of 4%, $100 par value cumulative preferred stock outstanding. It is one year in arrears on its preferred stock. How much cash will Crane distribute to the common stockholders? $181000. $137000. None. $88000

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