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Assume that you own 100 shares of $100 par value. 5% preferred stock. Assume further that dividends have not been declared for the past four
Assume that you own 100 shares of $100 par value. 5% preferred stock. Assume further that dividends have not been declared for the past four years. In Year 5, dividends are declared. How much will you receive if the stock is cumulative? What if it is noncumulative?
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