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The board of directors of Builders Equipment Corporaion (BEC) declared cash dividends of $3.5 million, $6.0 million, and $52.0 million in each of its first
The board of directors of Builders Equipment Corporaion (BEC) declared cash dividends of $3.5 million, $6.0 million, and $52.0 million in each of its first three years of operation: 2019,2020 , and 2021, respectively. BEC's shareholders' equity includes the items shown below. Common stock, $1 par, 50,000,000 shares outstanding Preferred stock, 6%,$100 par, 1,000,000 shares outstanding Required: Determine the amount of dividends per share on preferred and common stock for each of the three years. The preferred stock is cumulative and nonparticipating. (Round your answer to 2 decimal places. For instance, if your answer is $12 per share, write 12.00 . If your answer is 32 cents per share, write 0.32)
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