The Manny-Hanny Corporation issued 10.96% preferred stock in 1996 with a par value of $25. A total

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The Manny-Hanny Corporation issued 10.96% preferred stock in 1996 with a par value of $25. A total of 4 million shares are outstanding.

Calculate the total amount of dividends that Manny-Hanny must pay each year and the annual amount of dividends per share.

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