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Yates, Inc. has 40,000 shares of $10 par value common stock and 20,000 shares of $10 par value, 6%, cumulative, participating preferred stock outstanding. Dividends

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Yates, Inc. has 40,000 shares of $10 par value common stock and 20,000 shares of $10 par value, 6%, cumulative, participating preferred stock outstanding. Dividends on the preferred stock are one year in arrears. Assuming that Yates wishes to distribute $108,000 as dividends, the common stockholders will receive

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