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Gladstone Company issues 109,000 shares of preferred stock for $43 a share. The stock has fixed annual dividend rate of 9% and a $12

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Gladstone Company issues 109,000 shares of preferred stock for $43 a share. The stock has fixed annual dividend rate of 9% and a $12 per share. If sufficient dividends are declared, preferred stockholders can anticipate receiving dividends of: Multiple Choice O $12 per share. 9% of net income each year. $117,720 each year. $421,830 each year.

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