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What could be the maximum payment to preferred stockholders

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Question - Kuhns Corp. has 190,000 shares of preferred stock outstanding that is cumulative and 100,000 common stock outstanding. The preferred dividend is $6.00 per share and has not been paid for 3 years. If Kuhns earned $1.30 million this year, what could be the maximum payment to the preferred stockholders on a per share basis?

Reference no: EM133102467

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