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Mayflower Inc. has 10,000 shares of 5%, $100 par value cumulative preferred stocks outstanding. The dividends are five years in arrears. Mayflower declares that it

Mayflower Inc. has 10,000 shares of 5%, $100 par value cumulative preferred stocks outstanding. The dividends are five years in arrears. Mayflower declares that it will distribute $800,000 dividends t...

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