C Corporation has two classes of stock outstanding:

• 10,000 shares of $30 par value, 6% noncumulative preferred stock

• 88,000 shares of $1 par value, common stock.

In 2013 the company paid out $36,000 in total cash dividends to all stockholders. In 2012, the yield on common stock was 2%.

What total cash dividends were received by common stockholders in 2013?

a. $18,000

b. $29,333

c. $1,760

d. zero

Is the answer A?

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