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BigTex Industries, Inc. has 5,000 shares of common stock, par value $2 and has 1,000 shares of 6%, $50 par value, cumulative preferred stock. Two
BigTex Industries, Inc. has 5,000 shares of common stock, par value $2 and has 1,000 shares of 6%, $50 par value, cumulative preferred stock. Two years of dividends are in arrears. The board of directors declared a $80,000 dividend. How much of the dividend will the preferred stockholders receive?
$80,000 |
$3,000 |
$6,000 |
$9,000 |
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