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Phi Corporation issued preferred stock with a par value of $100 per share and a dividend rate of 8%. Calculate the annual dividend payment for
Phi Corporation issued preferred stock with a par value of $100 per share and a dividend rate of 8%. Calculate the annual dividend payment for preferred stock, the total par value of the preferred stock issued, the additional paid-in capital if the shares were issued at $120 per share, and the total shareholders' equity after the preferred stock issuance.
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