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Gladstone Company issues 200,000 shares of preferred stock for $40 a share. The stock has fixed annual dividend rate of 5% and a par
Gladstone Company issues 200,000 shares of preferred stock for $40 a share. The stock has fixed annual dividend rate of 5% and a par value of $3 per share. If sufficient dividends are declared, preferred stockholders can anticipate receiving dividends of O $10,000 each year. O $30,000 each year. O 5% of net income each year. $3 per share none of the above
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