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Daft Inc. has 10,000 shares of 5%, $100 par value cumulative preferred stocks outstanding. The dividends are five years in arrears. Daft declares that it
Daft Inc. has 10,000 shares of 5%, $100 par value cumulative preferred stocks outstanding. The dividends are five years in arrears. Daft declares that it will distribute $800,000 dividends this year. What amount will common stockholders get for their dividends?
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