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The Wu Corporation has the following balance in their common shares account at January 1st 20x8:
1.The Wu Corporation has the following balance in their common shares account at January 1st 20x8:
Common Shares, 924292 shares outstanding---$14811946
The contributed surplus account was zero at the beginning of the year but has a $76854 balance at December 31st 20x8. If only one share repurchase of 45287 shares occurred during the year, how much cash did Lynn pay to repurchase the shares?
Select one:
a. $648878
b. $76854
c. $1186312
d. $725732
2.The J&W Corporation's shareholders' equity as at December 31, 20x7 is as follows:
Common shares, 1196981 shares outstanding---$40,000,000
Preferred shares, $5.49, cumulative, 187658 shares outstanding---$15,000,000
Retained Earnings---$65,000,000
The preferred share dividends were last paid on December 31, 20x4. It is now December 1, 20x8 and management wants to pay a dividend of $3.97 per common share.
What will be the total dividend declared on December 1, 20x8?
Select one:
a. $7842742
b. $5782257
c. $4752015
d. $8872984