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Orleans, Inc. was incorporated on January 1, 2014. Orleans issued 4000 shares of common stock and 1000, $9 shares of cumulative preferred stock on that
Orleans, Inc. was incorporated on January 1, 2014. Orleans issued 4000 shares of common stock and 1000, $9 shares of cumulative preferred stock on that date. Orleans has not paid any dividends yet. In 2017, Orleans had its first profitable year, and on November 1, 2017, Orleans declared a total dividend of $100000. What is the total amount that will be paid to preferred shareholders?
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