Assume that a firm's book value at the beginning of the year is $17,800 and that the firm reports net income of $6,200 . If the firm's book value at the end of the year is $20,000 what was the amount of dividends paid during the year?
a. $4,000
b. $8,800
c. $2,200
d. Insufficient information to determine
A
$17,800 + $6,200 - $4,000 = $20,000
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