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The shareholders' equity of Kramer Industries includes the data shown below. During 2017, cash dividends of $190 million were declared. Dividends were not declared in

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The shareholders' equity of Kramer Industries includes the data shown below. During 2017, cash dividends of $190 million were declared. Dividends were not declared in 2015 or 2016. Required: Determine the amount of dividends payable to preferred shareholders and to common shareholders under each of the following two assumptions regarding the characteristics of the preferred stock

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