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Martinez Company's ledger exhibits the given balances on December 31, 2012.

5% Preferred stock-$10 par value, outstanding 22,480 shares $224,800

Common stock-$100 par value, outstanding 33,720 shares 3,372,000

Retained earnings 708,120

Supposing that the directors decide to declare total dividends in the amount of $298,984, find out how much each class of stock should receive beneath each of the conditions stated below. One year's dividends are in arrears on the favored stock.

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  • Reference No.:- M915908

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