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The shareholders' equity of Cedar Corporation includes the items shown below. The board of directors of Cedar Corporation declared cash dividends of $8 million, $20 million, and $150 million in its first three years of operation-2020, 2021, and 2022, respectively. ($ in millions) Common stock Paid-in capital-excess of par, common Preferred stock, 8% Paid-in capital-excess of par, preferred $8, $20, $20, respectively. None of the other answers is correct. The amount of dividends to be paid to preferred shareholders in each of the three years, assuming that the preferred stock is cumulative and nonparticipating, is $8. $16, and $16, respectively. $100 980 $16. $16, and $16, respectively. 200 555