Question $5$ of $40$

$\frac{-}{2\mathrm{.}5}$

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In each of the following independent cases, it is assumed that the corporation has $$850,000$ of $6\%$ preferred stock and $$3,400,000$ of common stock outstanding, each having a par value of $$10.$ No dividends have been declared for $2024$ and $2025.$

$($a$)$

As of $\frac{12}{31}\frac{?}{26},$ it is desired to distribute $$250,000$ in dividends. How much will the preferred stockholders receive if their stock is cumulative and nonparticipating?

Preferred stockholders receive $ $$

$$ Attempts: $0$ of $1$ used $$

$($b$)$

The parts of this question must be completed in order. This part will be available when you complete the part above.