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Bonita Inc. has 4600 shares of 5%, $100 par value, cumulative preferred stock and 49500 shares of $1 par value common stock outstanding at December

Bonita Inc. has 4600 shares of 5%, $100 par value, cumulative preferred stock and 49500 shares of $1 par value common stock outstanding at December 31, 2018. What is the annual dividend on the preferred stock?

A. $54 per share B. $49500 in total C. $23000 in total D. $0.46 per share

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