Young Corporation had 50,000 ordinary shares of P100 par value and 25,000 preference shares of P100 par value, 8% cumulative and 5% participating. Dividends on the preference shares are two years in arrears including the current year. The entity distributed P1,250,000 as dividends in the current year. How much will be the total dividends distributed to preference share

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A: Please find the answers to the above questions below: