Express a tax rate of 1.27% in dollars. $0.13 on each $100 of value $12.70 on each $100 of The Hybrid Company earned $52,000 last year. The capital stock of the company consists of $300,000 of 7% cumulative preferred stock and $200,000 of common stock. The directors declared a dividend of the entire earnings. During the previous year, the company earned only enough to pay a 2% dividend on preferred stock. Refer to Hybrid Company. What is the total amount that will be paid to the holders of preferred stock? $21,000 $30,000 $36,000 $52,000 $1.27 on each $1000 of value $1.27 on each $100 of value