Question: Colson Inc. declared a $ 3 2 0 , 0 0 0 cash dividend. It currently has 1 2 , 0 0 0 shares of

Colson Inc. declared a $

320, 000

cash dividend. It currently has

12, 000

shares of

7 %,

100

par value cumulative preferred stock outstanding. It is two years in arrears on its preferred stock. How much cash will Colson distribute to the common stockholders?

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