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Question 8 20 pts Carrington Aero Manufacturing Corporation has 3,250 shares of cumulative, 7.75%, $50 par value preferred stock outstanding, and 35,250 shares of common
Question 8 20 pts Carrington Aero Manufacturing Corporation has 3,250 shares of cumulative, 7.75%, $50 par value preferred stock outstanding, and 35,250 shares of common stock with a par value of $1.00 per share. Last year the company failed to pay its regular dividend, but the board of directors would like to resume paying its regular dividend this year. The board has determined that $75,000 cash will be paid this year to preferred and common stockholders. a. Calculate the total amount to be paid to: (1) preferred and (2) common stockholders. b. Calculate the dividend per share for: (1) preferred and (2) common stockholders
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