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Hybrid Company

The Hybrid Company earned $52,000 last year. The capital stock of the company consists of $300,000 of 7% cumulative preferred stock and $200,000 of common stock. The directors declared a dividend of the entire earnings. During the previous year, the company earned only enough to pay a 2% dividend on preferred stock.


Refer to Hybrid Company. What is the total amount that will be paid to the holders of preferred stock?
Textbook 
Contemporary Business Mathematics for Colleges

Contemporary Business Mathematics for Colleges


Edition: 16th
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