Topper corporation has 135000 shares of 1 par value common, Finance Basics

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Topper corporation has 135000 shares of 1 par value common

Question: Topper Corporation has 135,000 shares of $1 par value common stock and 96,000 shares of cumulative 8.8%, $100 par preferred stock outstanding. Topper has not paid a dividend for the prior year. If Topper declares a $2.00 per common share dividend this year, what will be the total amount they must pay their shareholders?

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