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Valley, Inc. has 12,000 shares of preferred stock outstanding. The preferred stock has a $140 par value, a 13% dividend rate, and is no cumulative.

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Valley, Inc. has 12,000 shares of preferred stock outstanding. The preferred stock has a $140 par value, a 13% dividend rate, and is no cumulative. If Valley has sufficient funds to pay dividends, what is the total amount of dividends that will be paid out to preferred stockholders? A. $218,400 B $53,846 C. $16,800 D. $129,231

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