Kuhns Corp. has 160,000 shares of preferred stock outstanding that is cumulative and 100,000 common stock outstanding. The preferred dividend is $7.30 per share and has not been paid for 3 years. If Kuhns earned $2.00 million this year, what could be the maximum payment to the preferred stockholders on a per share basis? (Round your answer to 2 decimal places.)

Multiple Choice

• $14.75 per share

• $12.50 per share

• $11.40 per share

• $14.00 per share