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Green Planet Corporation has 5,000 shares of noncumulative 10% preferred stock with a $2 par value and 16,700 shares of common stock with a $0.01
Green Planet Corporation has 5,000 shares of noncumulative 10% preferred stock with a $2 par value and 16,700 shares of common stock with a $0.01 par value. During its first two years of operation, Green Planet declared and paid the following total cash dividends.
Year 1 total cash dividends | $ 860 |
---|---|
Year 2 total cash dividends | 1,670 |
Compute the dividends paid each year to each of the two classes of stockholders assuming that the preferred stock is cumulative.
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