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Yates, Inc. has 400,000 shares of $1 par value common stock and 2,000 shares of $100 par value, 6%, cumulative, participating preferred stock outstanding. Dividends

Yates, Inc. has 400,000 shares of $1 par value common stock and 2,000 shares of $100 par value, 6%,cumulative, participating preferred stockoutstanding. Dividends on the preferred stock are one year in arrears. Assuming that Yates will distribute $108,000 as dividends, the common stockholders will receive

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