Curtain Co. paid dividends of $7000, $12,000, and $12,000 during Year 1, Year 2, and Year 3,
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Question:
Curtain Co. paid dividends of $7000, $12,000, and $12,000 during Year 1, Year 2, and Year 3, respectively. The company had 2000 shares of 5.0%, $100 par value preferred stock outstanding that paid a cumulative dividend. What is the total amount of dividends paid to common shareholders during Year 3?
Group of answer choices
$5000
$3000
$10,000
$1000
Expert Answer:
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