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Year 1 total cash dividends $ 23,000 Year 2 total cash dividends 31,700 Year 3 total cash dividends 235,000 Year 4 total cash dividends 385,000
Year 1 total cash dividends | $ 23,000 |
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Year 2 total cash dividends | 31,700 |
Year 3 total cash dividends | 235,000 |
Year 4 total cash dividends | 385,000 |
Yorks outstanding stock consists of 90,000 shares of noncumulative 7.5% preferred stock with a $5 par value and also 270,000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends:
Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and common. (Round your "Dividend per Preferred Share" answer to 3 decimal places.)
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