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Calculate the total amount of dividends

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Reference no: EM132503601

Point 1: ABC Company began operations in January, 2021, by issuing 9,100 shares of 8%, cumulative, $85 par value preferred stock and 16,000 shares of $15 par value common stock. ABC Company paid $29,000 of dividends in 2021, they paid $65,000 of dividends in 2022, and they paid $54,000 of dividends in 2023.

Question 1: Calculate the total amount of dividends that ABC Company must pay in 2024 in order to pay its common stockholders a dividend of $3 per share.

Reference no: EM132503601

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