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Ace Inc. has 5000 shares of 6% par value, cumulative preferred stock and 50000 shares of $1par value common stock outstanding at dec 31,2010. What

Ace Inc. has 5000 shares of 6% par value, cumulative preferred stock and 50000 shares of $1par value common stock outstanding at dec 31,2010. What is the annual dividend on the preferred stock a. $60 per share

b. $30,000 in total

c. $3000 in total

d. $0.60 per share

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