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7’8. A corporations outstanding stock is composed of 20,000 shares of $5 preferred, $100 par value, and 100,000 shares of common, $25 par. At the end of its first year of operations, a total of $120,000 in dividends is to be distributed. Determine the total amount of the dividends to be paid on each class of stock. 7. Preferred 8. Common

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