Question: In its recent income statement, Smith Software, Inc. reported $25 million of net income, and in its year-end balance sheet, Smith reported $405 million of

In its recent income statement, Smith Software, Inc. reported $25 million of net income, and in its year-end balance sheet, Smith reported $405 million of retained earnings. The previous year, its balance sheet showed $390 million of retained earnings.

What were the total dividends paid to shareholders during the most recent year?

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