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Smart Company has 5000 shares of $10 par 6% cumulative preferred stock and 100,000 shares of $5 par common stock. The Company pays a total

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Smart Company has 5000 shares of $10 par 6% cumulative preferred stock and 100,000 shares of $5 par common stock. The Company pays a total of $2,000 of dividends in year one and $14,000 of dividends in year two. How much of the dividends will be distributed to each class of stock

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