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Stark Co. has authorized the issuance of 100,000 shares of $10, 5% par value Preferred Stock. They've sold 10,000 shares of Preferred Stock for $12

Stark Co. has authorized the issuance of 100,000 shares of $10, 5% par value Preferred Stock. They've sold 10,000 shares of Preferred Stock for $12 per share. How much of a preferred dividend is paid if the full amount required is paid and this is the only sale of stock they've made?

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