(20 - 24) In each of the following cases, how many dollars of preferred dividends per share should be paid to preferred stockholders in the current period before any common dividends are paid? Problem Type Par Value Dividend Arrears (Passed) 20 Non-Cumulative 50 3.00% 1 21 Cumulative 100 4.00% 3 22 Cumulative 80 2.00% 4 23 Non-Cumulative 40 3.50% N 2 3 24 Cumulative 150 5.00% (25) A firm has an outstanding preferred stock issue with a par value of $80 per share. The preferred stock pays an annual dividend at a rate of 6%. What is the most you pay for this stock given your required return is 12%