Culver Corporation issued $144,000,$$$4\mathrm{.}50$ cumulative preferred shares to fund its first investment in wind generators. In its first year of operations, it paid $$432,000$ of dividends to its preferred shareholders. In its second year, the company paid dividends of $$864,000$ to its preferred shareholders.

$($a$)$

Your answer is correct.

What is the total annual preferred dividend supposed to be for the preferred shareholders?

Preferred dividends

$ $648,000$

Calculate any dividends in arrears in years $1$ and $2.($Do not leave any answer field blank. Enter O for amounts.$)$

Year $1$

Year $2$If the preferred shares were noncumulative rather than cumulative, what dividend would the company likely have paid its

preferred shareholders in year $2?($Enter dividend per share to $2$ decimal places, e$.$g$.15\mathrm{.}25.)$

The likely amount is $

per share, for a total of $

Answer rating: 100% (QA)

1 Total Annual Preferred Dividend Supposed to Be Culver Corporation issued 144000 cumulative preferr... View the full answer