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  • Jul 30, 2012, 12:01 AM
    Jem100
    Determine Dividends
    The outstanding stock of Edmunds Company includes (a) 40,000 shares of cumulative preferred stock with a $12 par value and a 7.5% dividend rate/ and (b) 100,000 shares of common stock with a $1 par value. During its first four years of operation, the company declared and paid the following total amounts of dividends: 2009.. . $ 19,000
    2010.. . 24,000
    2011.. . 100,000
    2012... 160/000

    Required: Determine the amount of dividends paid in each year to each class of stockholders. Also compute the total dividends paid to each class in the four years combined.

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