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Texas Inc. has 5 , 6 2 3 shares of 4 % , $ 1 0 0 par cumulative preferred stock and 8 5 ,

Texas Inc. has

5, 623

shares of

4 %,

100

par cumulative preferred stock and

85, 331

shares of $

1

par common stock outstanding at December

31 .

What is the annual dividend on the preferred stock?

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