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Gomez Company has 50,000 shares of $200 par value, 8% cumulative preferred stock and 160,000 shares of $120 par value common stock. Francisco declares and pal cash dividends amounting to $880,000. If no arrearage on the preferred stock exits, how much in total dividends is paid to each class of stock? O Preferred $256,000/ Common $624,000 OPreferred $640,000/Common $240,000 Preferred $800,000/ Common $80,000 Preferred $880,000 / Common SO