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Peatland inc has 8000 shares of preferred stock outstanding. The preferred stock has a $110 par value, a 5% dividend rate, and is non cumulative.

Peatland inc has 8000 shares of preferred stock outstanding. The preferred stock has a $110 par value, a 5% dividend rate, and is non cumulative. If pearland has sufficient funds to pay dividends, what is the total amount of dividends that will be paid out to preterred stockholders?

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