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Pecan Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following annual dividends over a six-year period: Year
Pecan Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following annual dividends over a six-year period: Year 1, $32,000; Year 2, $96,000; Year 3, $144,000; Year 4, $184,000; Year 5, $224,000; and Year 6, $288,000. During the entire period ending December 31 of each year, the outstanding stock of the company was composed of 20,000 shares of cumulative, 4% preferred stock, $100 par, and 100,000 shares of common stock, $15 par.
$15 par. Required: answers to two decimal places. If the amount is zero, please enter "0". 2. Determine the average annual dividend per share for each class of stock for the six-year period. If required, round your answers to two decimal places. AverageannualdividendforpreferredAverageannualdividendforcommon$$persharepershare stock and for common stock. Round your answers to two decimal places. Preferred stock Common stock %Step by Step Solution
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