Outstanding stock of the Ayayai Corporation included 40000 shares of $5 par common stock and 13000 shares of 5%, $10 par non-cumulative preferred stock. In 2019, Ayayai declared and paid dividends of $4000. In 2020, Ayayai declared and paid dividends of $20000. How much of the 2020 dividend was distributed to preferred shareholders?
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Outstanding stock of the Ayayai Corporation included 40000 shares of $5 par common stock and 13000 s...
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