Kuhns Corp. has 230,000 shares of preferred stock outstanding that is cumulative. The dividend is $6.10 per share and has not been paid for 3 years. If Kuhns earned $1.70 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.) $8.89 per share $7.39 per share $6.29 per share $9.64 per share