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A company has 3,500 shares outstanding of its $8 par value, 10%, cumulative preferred stock. On October 9, 2020, the company declares a $12,000 cash dividend. Assume the company did not pay dividends in 2018 or 2019. Calculate the amount of the dividend allocated to common shareholders. You Answered 6400 Correct Answers 3600 3,600 $3,600 $3600