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Mcdon Inc., a developer of corn distribution equipment, has stock outstanding as follows: 21,000 shares of cumulative preferred 1% stock, $150 par, and 70,000 shares
Mcdon Inc., a developer of corn distribution equipment, has stock outstanding as follows: 21,000 shares of cumulative preferred 1% stock, $150 par, and 70,000 shares of $5 par common. During its first four years of operations, the following amounts were distributed as dividends: 1st year, $21,210; 2nd year, $51,790; 3rd year, $80,990; 4th year, $134,400.
Compute the dividend per share on each class of stock for each of the four years. Round all answers to two decimal places.
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