York's outstanding stock consists of 90,000 shares of noncumulative 7.5% preferred stock with a $5 par...

 

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York's outstanding stock consists of 90,000 shares of noncumulative 7.5% preferred stock with a $5 par value and also 270,000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends: Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and common. Note: Round your "Dividend per Preferred Share" answer to 3 decimal places. Par Value per Preferred Share $5.00 Dividend Rate Dividend per Preferred Share Number of Preferred Preferred Dividend Shares Annual Preferred Dividend: 7.5% 90,000 $33,750 Dividends in Total Cash Dividend Paid Paid to Preferred Paid to Common Arrears at year-end Year 1 $ 23,000 $ 23,000 Year 2 31,700 31,700 Year 3 235,000 Year 4 385,000 33,750 Total: $ 674,700 $ 88,450 $ 0 CO York's outstanding stock consists of 90,000 shares of noncumulative 7.5% preferred stock with a $5 par value and also 270,000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends: Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and common. Note: Round your "Dividend per Preferred Share" answer to 3 decimal places. Par Value per Preferred Share $5.00 Dividend Rate Dividend per Preferred Share Number of Preferred Preferred Dividend Shares Annual Preferred Dividend: 7.5% 90,000 $33,750 Dividends in Total Cash Dividend Paid Paid to Preferred Paid to Common Arrears at year-end Year 1 $ 23,000 $ 23,000 Year 2 31,700 31,700 Year 3 235,000 Year 4 385,000 33,750 Total: $ 674,700 $ 88,450 $ 0 CO

Answer rating: 100% (QA)

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