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Question
Anders, Inc has 5,000 shares of 5%, €100 par value, cumulative preference shares and 20,000 ordinary shares with a $1 par value outstanding at December 31, 2011. There were no dividends declared in 2009. The board of directors declares and pays a €45,000 dividend in 2010 and in 2011. What is the amount of dividends received by the ordinary shareholders in 2011?
a. €15,000
b. €25,000
c. €45,000
d. €0
Answer
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