As of January 1, XYZ Inc has 10,770 preferred shares outstanding for a total cost of $278,130. The company also has 17,250 common shares outstanding for a total cost of $1,724,170. If the preferred shares pay a dividend of $1.53 per share and are participating, what is the per-share dividend that should be allocated to the common shares before any additional dividend would be paid to preferred shareholders for participation?

Question 7 options:

	$5.77
	$5.92
	$6.07
	$6.22
	$6.37