Rouge Corp. has 75,000 shares of $2 par common stock and 30,000 shares of $14 par 8% cumulative preferred stock. The company declares cash dividends of $60,000 during the current year and there are $8,000 dividends in arrears. What will be the total dividend payment to common and preferred shareholders?

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The Answer of Rouge Corp. has 75,000 shares of $2 par common stock and 30,000 shares of $14 par 8% cumulative preferred stock. The company declares cash dividends of $60,000 during the current year and there are $8,000 dividends in arrears. What will be the total dividend payment to common and preferred shareholders?