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Compute the amount of the cash dividend to be paid

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Question - Assume that on December 31, 2016, Stark Company has outstanding 10,000 shares of $25 par, 6% non-cumulative, preferred stock and 100,000 shares of $5 par common stock. Stark was unable to declare a dividend in 2014 or 2015 but wants to declare a $100,000 dividend for 2016. Compute the amount of the cash dividend to be paid to the preferred stockholders in 2016?

Reference no: EM132536323

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