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Question
denson, inc. has 10,000 shares of 8%, $100 par value, non-cumulative preferred stock and 40,000 shares of $1 par value common stock outstanding at december 31, 2012. there were no dividends declared in 2011. the board of directors declares and pays a $120,000 dividend in 2012. what is the amount of dividends received by the common stockholders in 2012?
a.$0
b.$80,000
c.$120,000
d.$40,000
Answer
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