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Avant Garde Corporation has 175,000 shares of $1.50 preferred stock outstanding in addition to its common stock. The $1.50 designation means that the preferred stockholders receive an annual cash dividend of $1.50 per share. In 2018, Avant Garde declares an annual dividend of $500,000. The allocation to preferred and common stockholders is: (Click the icon to view the data.) Read the requirements. 1. How much in dividends must Avant Garde declare each year before the common stockholders receive any cash dividends for the year? Avant Garde must declare dividends of $ receive any cash dividends for the year. each year before the common stockholders Data Table Preferred dividend (175,000 shares x 1.50 per share) . $262,500 237,500 500,000 Print Done