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Shares of preferred stock outstanding and 650000 shares for

The National Health Corporation (NHC) has a cumulative preferred stock issue outstanding, which has a stated annual dividend of $8 per share. The company has been losing money and has not paid preferred dividends for 5 years. There are 350,000 shares of preferred stock outstanding and 650,000 shares for common stock. 1. how much is the company behind in preferred dividends?

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