The following information pertains to questions 19 & 20. Assume that on October 15, 2020, the board of Nelson Corp. declared a 7% cash dividend on its 1,000 shares of $100 par value non-cumulative preferred stock. The dividend will be paid on December 15, 2020 to stockholders of record as of November 15, 2020. At the time of the dividend declaration, the market price of Nelson Corp preferred stock was $50 per share. 19. The "ex-dividend date" would likely be Answer 1 20. Which of the following statements is/are false? 1. The total cash dividend would be $7,000. 2. The total cash dividend would be $3,500 3. The cash dividend per share would be 7% times $100 4. The total cash dividend per share would be 7% times $50 A. 2 & 4 B. 1 & 3 C. 1 D. 3 E. All 4 statements are false 21. The term "Salvage Value" can be best described as A. The amount an intangible asset can be purchased B. Expected market value of a fully depreciated asset C. Future expected cost to replace a depreciable asset D. Cost of a depreciable asset minus accumulated depreciation E. None are correct 22. In a period of declining prices, which inventory cost flow method will produce the lowest amount of gross margin? A. FIFO. B. Weighted average. C. LIFO. D. Speci e of the above 47 words