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Waterway, Inc. has 1000 shares of 6%, $10 par value, cumulative preferred stock and 65000 shares of $1 par value common stock outstanding at December

Waterway, Inc. has 1000 shares of 6%, $10 par value, cumulative preferred stock and 65000 shares of $1 par value common stock outstanding at December 31, 2018. What is the annual dividend on the preferred stock?

A. $6 per share B. $600 in total C. $0.06 per share D. $6000 in total

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