The board of directors desires to pay $40,000 of dividends to its common shareholders when two years of dividends are in arrears on 1,000 shares of $20 par, 10% cumulative preferred stock. How much total dividends must be declared?

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The Answer of The board of directors desires to pay $40,000 of dividends to its common shareholders when two years of dividends are in arrears on 1,000 shares of $20 par, 10% cumulative preferred stock. How much total dividends must be declared?

The Board of Directors Desires to Pay $40,000 of Dividends