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How much dividend paid to preferred stockholders

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Reference no: EM132469893

Assume the following capital structure at December 31, 2018:

  • Preferred stock, 9%, $50 par value, 2,000 shares issued and outstanding. Preferred dividends were not declared for three prior years (2015 - ­ 2017).
  • Common stock, $100 par value, 3,000 shares issued and outstanding.
  • Total dividends declared and paid in 2016 were $60,000.

Question 1: How much of the 2016 dividend will be paid to the preferred stockholders assuming the preferred stock is noncumulative?

Group of answer choices

Point 1: $51,000.

Point 2: $36,000.

Point 3: $9,000.

Point 4: $24,000.

Reference no: EM132469893

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