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Columbia CompanyThe Columbia Company earned $1,400,000 last year. The capital stock of the company ...

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Columbia CompanyThe Columbia Company earned $1,400,000 last year. The capital stock of the company ...

Columbia Company

The Columbia Company earned $1,400,000 last year. The capital stock of the company consists of $8,000,000 of 6% cumulative preferred stock and $15,000,000 of common stock. The directors declared a dividend of the entire earnings. During the previous year, the company earned $240,000 and the directors declared a dividend of the entire earnings.

Refer to Columbia Company. What is the total amount that will be paid to the holders of common stock?

Textbook

Contemporary Business Mathematics for Colleges

Edition: 16^th

Authors: Deitz, Southam

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