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Trading Places,a Multi-National Corporation,had a Very Successful Year

Question 158

Multiple Choice

Trading Places,a multi-national corporation,had a very successful year.The board of directors declared and paid a cash dividend of $50,000.The prior year,Trading Places did not pay dividends on its 400 shares of noncumulative,8%,$100 par,preferred stock.How much of the cash dividend was paid to the COMMON shareholders?


A) $46,800
B) $0
C) $43,600
D) $50,000

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