Use the following information for questions 4 through 6. AC860 Company has outstanding 300,000 shares of $2 par common stock and 60,000 shares of no-par 8% preferred stock with a stated value of $5. The preferred stock is cumulative and nonparticipating. Dividends have been paid in every year except the past two years and the current year. 4. Assuming that $150,000 will be distributed as total dividends (for common and preferred together) in the current year, how much will the common stockholders receive? 5. Assuming that $210,000 will be distributed (for common and preferred together), and the preferred stock is also participating, how much will the common stockholders receive? 6. Hoffman Corporation had net income for the year of $480,000 and a weighted average number of common shares outstanding during the period of 200,000 shares. The company has a convertible bond issue outstanding. The bonds were issued four years ago at par ($2,000,000), carry a 7% interest rate, and are convertible into 40,000 shares of common stock. The company has a 40% tax rate. Calculate the diluted earnings per share