What is the total amount of dividends that will be paid

Reference no: EM131956370

Problem

Pearland Company has 5,000 shares of preferred stock outstanding. The preferred stock has a $90 par value, a 5% dividend rate, and is noncumulative. If Pearland has sufficient funds to pay dividends, what is the total amount of dividends that will be paid out to preferred shareholders?

Reference no: EM131956370

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