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S owns 1 0 preferred shares of X Corporation with a par value of P 1 0 0 , 0 0 0 per share at

S owns 10 preferred shares of X Corporation with a par value of P100,000 per share at 5% guaranteed cumulative dividends. If after 4 years the corporation decided to declare the regular annual dividend, how much will S receive by way of dividends for his 10 shares?
 

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