Question
A company's share information is as follows: has outstanding 19 million shares of $2 par value common stock and 1.9 million shares of $4 par
A company's share information is as follows: has outstanding 19 million shares of $2 par value common stock and 1.9 million shares of $4 par value, cumulative preferred stock. The preferred stock has a 7% dividend rate. The company declares $11,400,000 in total dividends for the year. Preferred Dividends in arrears are $570,000.
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