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What is the distribution of dividends in year three

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Question - Booyah Party Supplies, Inc. outstanding stock consists of 80,000 shares of cumulative 7.5% Preferred Stock and 200,000 shares of $1 par value Common Stock. During its first four years of operation, Booyah's declared and paid the following total cash dividends:

Year 1 total cash dividends $20,000

Year 2 total cash dividends 28,000

Year 3 total cash dividends 200,000

Year 4 total cash dividends 350,000

Required - What is the distribution of dividends in Year 3?

Reference no: EM132794628

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