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Occidental Produce, Inc. has 47,000 shares of common stock outstanding and 3,000 shares of preferred stock outstanding. The common stock is $0.06 par value; the
Occidental Produce, Inc. has 47,000 shares of common stock outstanding and 3,000 shares of preferred stock outstanding. The common stock is $0.06 par value; the preferred stock is 7% noncumulative with a $100 par value. On October 15, 2017, the company declares a total dividend payment of $58,000. How much dividend will be paid to the preferred stockholders
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