ORANGE Corporation has outstanding 20,000 shares of 8% preference shares with a ₱10 par value and 100,000 shares of ₱3 par value ordinary shares. Dividends have been paid every year except last year and the current year. If ₱80,000 is distributed, how much will the ordinary shareholders receive? *   a ₱ 0 b ₱ 48,000 c ₱64,000 d ₱ 80,000

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A:

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