Dividends Paid and Dividends in Arrears

The Arcadia Company has $160,000$ shares of cumulative, four percent, $$160$ par value preferred stock outstanding. Last year the company failed to pay its regular dividend, but the board of directors would like to resume paying its regular dividend this year.

Calculate the dividends in arrears and the total dividend that must be paid this year.

Dividend in arrears $Answer

Total dividend $Answer