A Company has 4,000 shares of 5 percent, $100 par-value preferred stock and 50,000 shares of $2 par-value common stock outstanding. If the board of the directors decides to distribute dividends totaling $100,000, the common stockholders will receive a dividend of
a. $1.00 a share
b. $1.60 a share
c. $2.00 a share
d. $2.40 a share
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