2. You own 500 shares of 2%, $100 par preferred stock. This year you received a dividend of $3 per share after receiving the normal dividend last year. Common shareholders also receive dividends. The preferred stock you own most likely has which of the following specials features?

	A.	Cumulative feature
	B.	Call feature
	C.	Participation feature
	D.	Convertible feature
	E.	Both A and C

3.

Benezra Enterprises, Inc. has a plant capacity that can produce 4,000 units annually. Its predicted operations for the year are as follows:

Sales (3,000 units at $50 each)	$150,000
Manufacturing costs:
Variable	$20 per unit
Fixed	$10,000
Marketing and administrative costs:
Variable	$10 per unit
Fixed	$20,000

Refer to the information above for Benezra Enterprises. What is the current operating profit (show your work)?