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  3. crane, inc. has $500,000, $0.80, no par value pref

crane, inc. has $500,000, $0.80, no par value preferred shares (50,000 shares) and $1,000,000 of...

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Accounting

Crane, Inc. has $500,000, $0.80, no par value preferred shares (50,000 shares) and $1,000,000 of no par value common shares outstanding (80,000 shares). No dividends were paid or declared during 2021 and 2022. The company wants to distribute $582,500 in dividends on December 31, 2023. Calculate the amount of dividends to be paid to each group of shareholders (i.e., preferred and common), assuming the preferred shares are non-cumulative and non-participating. Preferred Common Total dividends $ $ Save for Lat

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