1. Laurier Inc. has the following shares outstanding

1000 Common shares outstanding

800 Preferred shares outstanding, cumulative, with 2 years of outstanding dividends in addition to the current year. The preferred shares pay dividends of $ 0.40 per share per year.

During the current year, a dividend of $ 8200 was declared. How much would the common shareholder's receive per share. Round your answer to the nearest cent. ie. 0.26

Answer (7.24)