Question: In 2 0 2 0 , Killer Cough Ltd earned gross profits of R 5 8 0 0 0 0 . Killer Cough was financed

In 2020, Killer Cough Ltd earned gross profits of R580000. Killer Cough was financed by a combination of common stock and R1.5 million of preferred stock. The dividend yield on the preferred stock was 7% and the corporate tax rate was 21%. What is the profit available for common stockholders after payment of preferred dividends and corporate taxes?
Group of answer choices
R 520400
R 353200
R 417600
R 475000
None of the above

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