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3. Happy Corporation has issued 575,000 shares of common stock and 100,000 shares of cumulative preferred stock. Annual dividends on the 4 . cumulative preferred stock are $2 per share. Last year, dividends of $1.25 per share were paid to preferred stockholders. This year the board of 5. directors decided to distribute $1,080,000 in dividends. If you own 300 shares of common stock, what is the amount of your annual dividend? 6