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What could be the maximum payment

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Question - Kuhns Corp. has 240,000 shares of preferred stock outstanding that is cumulative and 100,000 common stock outstanding. The preferred dividend is $7.40 per share and has not been paid for 3 years. If Kuhns earned $1.40 million this year, what could be the maximum payment to the preferred stockholders on a per share basis?

Reference no: EM132995346

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