pro Inc. declared a 360,000 cash dividend. It currently has 9,000 shares of 7%, 100 par value cumulative preference shares outstanding. It is one year in arrears on its preference shares. (Two questions are based on this information.) How much cash will Ipro distribute to the ordinary shareholders?

Select one:

a. None of these answers.

b. 297,000.

c. 240,000.

d. 126,000.

e. 234,000.