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The outstanding stock is composed of 10,000 shares of $100 par, cumulative preferred 5% stock, and 50,000 shares of $20 par common stock. Preferred dividends have been paid every year except for the preceding two years and the current year. If $145,000 is to be distributed as a dividend for the current year, what total amount will be distributed to the preferred stockholders?

a. $75,000

b. $0

c. $145,000

d. $150,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9411362

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