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Valley, Inc. has 9,000 shares of preferred stock outstanding. The preferred stock has a $200 par value, a 8% dividend rate, and is noncumulative. If

Valley, Inc. has 9,000 shares of preferred stock outstanding. The preferred stock has a $200 par value, a 8% dividend rate, and is noncumulative. If Valley has sufficient funds to pay dividends, what is the total amount of dividends that will be paid out to preferred stockholders?

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