Computing the amount of dividends in arrears

Reference no: EM13144157

Zeta Co. has outstanding 100,000 shares of $100 par value cumulative preferred stock which has a dividend rate of 6 percent. The company has not declared any cash dividends on the preferred stock for the last three years.

Required:

Calculate the amount of dividends in arrears on Zeta's preferred stock.

Reference no: EM13144157

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