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Texas Inc. has 6,000 shares of 5%,$125 par value cumulative preferred stock and 100,000 shares of $1 par value common stock outstanding at December 31

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Texas Inc. has 6,000 shares of 5%,$125 par value cumulative preferred stock and 100,000 shares of $1 par value common stock outstanding at December 31 . What is the annual dividend on the preferred stock? a. $37,500 in total b. $0.01 per share C. $50.00 per share d. $5,000 in total

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