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Question
Macy Company has issued and outstanding 10,000 shares of 2% cumulative preferred stock of $50 par and 25,000 shares of $75 par common stock. The following amounts were distributed as dividends:
| Year 1 | $30,000 |
| Year 2 | 6,000 |
| Year 3 | 80,000 |
Determine the dividend per share for preferred and common stock for each year.
Answer
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