U-Bet Corporation has 10,000 shares of (8 %, $ 100) par value, cumulative preferred stock outstanding at

Question:

U-Bet Corporation has 10,000 shares of $8 \%, \$ 100$ par value, cumulative preferred stock outstanding at December 31, 2017. No dividends were declared in 2015 or 2016 . If U-Bet wants to pay $\$ 375,000$ of dividends in 2017, common stockholders will receive:

(a) $\$ 0$.

(c) $\$ 215,000$.

(b) $\$ 295,000$.

(d) $\$ 135,000$.

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