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Question Content Area Texas Inc. has 6,824 shares of 5%, $100 par value cumulative preferred stock and 80,320 shares of $1 par value common stock

  1. Question Content Area

    Texas Inc. has 6,824 shares of 5%, $100 par value cumulative preferred stock and 80,320 shares of $1 par value common stock outstanding at December 31. What is the annual dividend on the preferred stock?

    a.$6,824 in total

    b.$34,120 in total

    c.$4,016 in total

    d.$50.00 per share

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