A company has authorised capital of 50,000 5 per cent preference shares of $2 each and 500,000 ordinary shares with a par value of 20¢ each. All of the preference shares have been issued, and 400,000 ordinary shares have been issued at a premium of 30¢ each. Interim dividends of 5¢ per ordinary share plus half the preference dividend have been paid during the current year. A final dividend of 15¢ per ordinary share is declared and half the preference dividend. The total of dividends payable for the year is: $...............

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