Business math

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The Duval Company was incorporated with 5% preferred capital stock of $600,000 and common stock of $1,600,000. The par value of the preferred stock was $100, and the par value of the common stock was $20.

Last year, dividends were declared by the Duval Company, which had earnings totaling $302,000.

a.  What was the total amount of the preferred stock dividend?

$

b.  What amount would have been paid on each share of common stock if all the earnings had been distributed?

$ per share

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