Exercise 18-8 (Algo) Reporting preferred shares (LO18-4, 18-7) Ozark Distributing Company is primarily engaged in the wholesale distribution of consumer products in the Ozark Mountain regions. The following disclosure note appeared in the company's 2021 annual report: Note 5. Convertible Preferred Stock (in part): The Company has the following Convertible Preferred Stock outstanding as of September 2021: Date of issuance: Optionally redeemable beginning: Par value (gross proceeds): Number of shares: Liquidation preference per share: Conversion price per share: Number of common shares in which to be converted: Dividend rate: June 17, 2018 June 18, 2020 $5,950,000 170,000 35 44.46 133,828 6.765% The Preferred Stock is convertible at any time by the holders into a number of shares of Ozark's common stock equal to the number of preferred shares being converted times a fraction equal to $35 divided by the conversion price. The conversion prices for the Preferred Stock are subject to customary adjustments in the event of stock splits, stock dividends and certain other distributions on the Common Stock. Cumulative dividends for the Preferred Stock are payable in arrears, when, as, and if declared by the Board of Directors, on March 31, June 30, September 30, and December 31 of each year. The Preferred Stock is optionally redeemable by the Company beginning on various dates, as listed above, at redemption prices equal to 120% of the liquidation preference. The redemption prices decrease 1% annually thereafter until the redemption price equals the liquidation preference, after which date it remains the liquidation preference. 4. If Ozark chooses to redeem the shares on June 18, 2022, what amount will the investor be paid for his/her 200 shares? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 If Ozark chooses to redeem the shares on June 18, 2022, what amount will the investor be paid for his/her 200 shares? (Round "Per Share Amounts" to 2 decimal places except percentage values.) Total 200 shares Per Share Amounts 35.00 120 X % Liquidation preference Redemption Percentage (%) Redemption price, June 18, 2022 $ $ 44.52 Xs 8,904 X Required 3 Required 4 )