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Dedrick Incorporated did not pay dividends in 2021 or 2022 , even though 44,600 shares of its 7.6%,$80 par value cumulative oreferred stock were outstanding

image text in transcribed Dedrick Incorporated did not pay dividends in 2021 or 2022 , even though 44,600 shares of its 7.6%,$80 par value cumulative oreferred stock were outstanding during those years. The company has 243,000 shares of $1.5 par value common stock outstanding. Required: a. Calculate the annual dividend per share obligation on the preferred stock. Note: Round your answer to 2 decimal places. b. Calculate the amount that would be received by an investor who has owned 200 shares of preferred stock and 300 shares of common stock since 2020 if a $0.70 per share dividend on the common stock is paid at the end of 2023. Note: Do not round intermediate calculations

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