Homework Answers
Answer
- 1st preference will be given to Preferred Stock holders.
- Dividend to Preferred stock holder = 9000 shares x $ 70 par x 5% = $ 31,500
- Dividend to Common Stockholder = 65000 shares x $ 3 = $ 195,000
- Total Dividend
= 31500 + 195000
= $ 226,500 Answer
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