Homework Answers
Solution
| Paid to Preferred | Paid to common | |
| Year 1 | $ 16,000.00 | $ 4,000.00 |
| Year 2 | $ - | $ - |
| Year 3 | $ 12,000.00 | $ - |
| Year 4 | $ 20,000.00 | $ 55,000.00 |
Working
| Par Value per Preferred share | Dividend rate | Dividend per preffred share | Number of preffered shares | Preffered Dividend | |
| Annual Prefrred Dividend: | 40 | 8.00% | $ 3.200 | 5000 | $ 16,000.00 |
| Total Cash dividend Paid | Paid to Preferred | Paid to common | Dividends in arear at year-end | ||
| Year 1 | $ 20,000 | $ 16,000 | $ 4,000 | $ 0 | |
| Year 2 | $ 0 | $ 0 | $ 0 | $ 16,000 | |
| Year 3 | $ 12,000 | $ 12,000 | $ 0 | $ 20,000.00 | |
| Year 4 | $ 75,000 | $ 20,000 | $ 55,000 | ||
| Total | $ 107,000 | $ 48,000 | $ 59,000 |
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