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OpenStudy (anonymous):
Ace Corp pays its cumulative preferred stock $1.95 per share. There are 40,000 shares of prefered and 80,000 shares of common. In 2009, 2010, and 2011 due to the slow downs in the economy, Ace paid no dividends. Now 2012, the Board of Directors has decided to pay out $600,000 in dividends. The common stockholders receive:
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