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Mann Co. has outstanding 50,000 shares of 8% preference shares with a $10 par value and 125,000 shares of $3 par value ordinary shares. Dividends have been paid every year except last year and the current year. If the preference shares are cumulative and nonparticipating and $250,000 is distributed, the ordinary shareholders will receive ?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M941893

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