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Marco Co. has 10,000 shares of $50 par value, cumulative preferred stock. The annual dividend on the preferred stock is $3 per share. By the end of 2010, Marco had not declared any dividends for 4 years.
-In December 2011, Marco Co. declared $260,000 of dividends, payable on January 3, 2012. How much of this amount will each class of stockholders receive?
Use the following information to answer questions Marco Co. has 10,000 shares of $50 par value, cumulative preferred stock. The annual dividend on the preferred stock is $3 per share. By the end of 2010, Marco had not declared any dividends for 4 years. -In December 2011, Marco Co. declared $260,000 of dividends, payable on January 3, 2012. How much of this amount will each class of stockholders receive?

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