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Determine the amount of dividends paid each year

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Question - Nortan's outstanding stock consists of (a) 40,000 shares of noncumulative 9.50% preferred stock with a $10 par value and (b) 100,000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends.

2009

$30,000

2010

22,000

2011

90,000

2012

197,000

Determine the amount of dividends paid each year to each of the two classes of stockholders.

Reference no: EM131815930

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