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Alto Company issued 1000 shares of 7% preferred stock with a $100 par value. This means that: Multiple Choice The maximum total dividends preferred stockholders

Alto Company issued 1000 shares of 7% preferred stock with a $100 par value. This means that:

Multiple Choice

  • The maximum total dividends preferred stockholders have a right to for any given year is $7

  • The maximum total dividends preferred stockholders have a right to for any given year is $70

  • Preferred shareholders have a guaranteed dividend.

  • The maximum total dividends preferred stockholders have a right to for any given year is $7000

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