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On 4/15 Blue Corp. declares a $4.85 cash dividend. On that date, the company had 45,000 shares issued, 40,000 of which were outstanding (5,000 were

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On 4/15 Blue Corp. declares a $4.85 cash dividend. On that date, the company had 45,000 shares issued, 40,000 of which were outstanding (5,000 were held in treasury). Blue Corp. paid the dividend to its shareholders on 4/20. What is the impact of declaring the cash dividend on Blue Corp.'s Net Income

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