How much of the 2020 dividend was distributed to preferred

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Question: Outstanding stock of the Marigold Corp. included 32000 shares of $5 par common stock and 14000 shares of 5%, $10 par non-cumulative preferred stock. In 2019, Marigold declared and paid dividends of $9600. In 2020, Marigold declared and paid dividends of $28800. How much of the 2020 dividend was distributed to preferred shareholders?

Reference no: EM133379632

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