2. Assume the following data relative to ABC Corporation for 2016 is available: 8% Cumulative Preferred Stock Sold at par, convertible into 200,000 shares as adjusted for stock split $1,000,000 Stock Options 60,000 options Exercisable at the option price of $25 per share. $30 average market price in 2016 , $20 year end marke price(market price and option price adjusted for stock split)