### Buzz inc has 8000 shares of 5 50 par cumulative preferred

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Buzz, Inc. has 8,000 shares of 5%, \$50 par, cumulative preferred stock and 50,000 shares of \$3 par common stock outstanding. No dividends were declared last year, however, a dividend of \$50,000 was declared and paid this year. What amount of the total dividend was paid to common stockholders?

a. \$10,000

b. \$30,000

c. \$15,000

d. \$50,000

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