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Dedrick Inc. did not pay dividends in 2018 or 2019, even though 42,900 shares of its 6.6%, $80 par value cumulative preferred stock were outstanding
Dedrick Inc. did not pay dividends in 2018 or 2019, even though 42,900 shares of its 6.6%, $80 par value cumulative preferred stock were outstanding during those years. The company has 223,000 shares of $3 par value common stock outstanding. Required: a. Calculate the annual dividend per share obligation on the preferred stock. (Round your answer to 2 decimal places.) b. Calculate the amount that would be received by an investor who has owned 240 shares of preferred stock and 580 shares of common stock since 2017 if a $0.25 per share dividend on the common stock is paid at the end of 2020. (Do not round intermediate calculations.) a. Annual dividend per share Total dividends received b
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