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Question(s) / Instruction(s):

Berman Inc. has 1,000 shares of 8%, $50 par value, cumulative preferred stock and 50,000 shares of $1 par value common stock outstanding at December 31, 2009, and December 31, 2010. The board of directors declared and paid a $3,000 dividend in 2009. In 2010, $12,000 of dividends are declared and paid. What are the dividends received by the common stockholders in 2010?

A.            $4,000

B.            $7,000

C.            $6,000

D.            $5,000

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