Question: Company X declared a $ 5 0 0 , 0 0 0 cash dividend. It currently has 1 0 , 0 0 0 shares of

Company X declared a $

500, 000

cash dividend. It currently has

10, 000

shares of

9 %,

75

par value cumulative preferred stock outstanding, which is three years in arrears. How much cash dividends will Company X distribute to the common stockholders?

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