How much dividend will be paid to the preferred stockholders

Reference no: EM131011736

Occidental Produce, Inc. has 47,000 shares of common stock outstanding and 4,000 shares of preferred stock outstanding. The common stock is $0.03 par value, the preferred stock is 9% noncumulative with a $100 par value. On October 15, 2017 the company declares a total dividend payment of $54,000. How much dividend will be paid to the preferred stockholders?

A. $54,000
B. $36,000
C. $12,000
D. $1,410

Reference no: EM131011736

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