E connect cancel This window shows what is correct rd irncorrect for the work you have completso fa. Even if all of the work you have done so fer is correct, you may not have completed everything 5.00 points Robbins Petroleum Company is four years in areers on cumulative preferred stock dividends. There are 780,000 preferred shares outstanding, and the annual dividend is $4.50 per share. The Vioa-Pres dent of Finanoa sees no real hope of paying the dividands in arrears. She is devising aplan to compensate the preferred stockholders for S0 percent of the dividends in arrears. a. How much should the compensation be? (Do not round intermediate calculations. Input your answer in dollars, not millions (e.g. 1,234,000).) Answer is complete and correct. Compensation12,636,000 b. Robbins will compensate the preferred steckholders in the form of bonds paying 12 percent interest in a market environment in which the going rate of interest is 14 percent for similar bonds. The bonds will have a 15-year maturity. Using the bond valuation Table 16-2, ind cate the market value of a $1,000 par value bond. (Round your answer to the nearest whole number.) Answer is complete but not entirely correct. Bond valus 877 C. Based on market value, how many bonds must be issued to provide the mpensation determined in part ? (Do not round intermediate calculations and round your answer to the nearest whole number.) Answer is complete but not entirely correct. 14,408 8 issued