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Novak Corp. has 1650 shares of 6%, $100 par value, cumulative preferred stock and 82500 shares of $1 par value common stock outstanding at December

Novak Corp. has 1650 shares of 6%, $100 par value, cumulative preferred stock and 82500 shares of $1 par value common stock outstanding at December 31, 2020. What is the annual dividend on the preferred stock?

$600 in total.

$60 per share.

$9900 in total.

$0.60 per share.

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