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Question
Freidrichs Company has issued and outstanding 11,000 shares of cumulative, 8%, €50 par value preference shares which it sold for €54 per share at the beginning of 2009. The company has never paid preference dividends. As of December 31, 2011, dividends in arrears are
a. €88,000.
b. €132,000.
c. €162,000.
d. €142,560.
Answer
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