Question 13

XYZ Corporation has 120,000 shares of common stock and 60,000 shares of cumulative preferred stock. The annual dividend of the preferred stock is $1.50 per share. The only dividends paid last year were to preferred stockholders in the amount of $0.75 per share. This year the board of directors decided to distribute $1,564,200 in dividends. If you own 50 shares of common stock, what is the amount of your annual dividend?

		$11.91
		$595.50
		$13.04
		$651.75