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Duncan corporation has 2,000 shares of $100 par value, 6 percent cumulative preferred stock and 20,000 shares of $10 par value common stock outstanding. In its first four years of operation, Ducan Corporation paid cash dividends as follows: 2001, $15,000; 2002, $0; 2003, $20,000; 2004, $25,000. Calculate the total cash dividends received by owners of preferred and common stock in each year. Explain your answer!
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