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The Arcadia Company is liquidating. After paying off all of its creditors, the company has $1 million to distribute between its preferred stockholders and its

The Arcadia Company is liquidating. After paying off all of its creditors, the company has $1 million to distribute between its preferred stockholders and its common stockholders. The aggregate par value of the preferred stock is $900,000 and the aggregate par value of its common stock is $2 million. How much of the remaining $1 million in assets should be distributed to the preferred stockholders and how much should be distributed to the common stockholders?

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