eBook Problem 10-87A (Algorithmic) Preferred Dividends Magic Conglomerates had the following preferred stock outstanding at the end of a recent year: $25 par, 10% $30 par, 8%, cumulative $50 par, 12%, cumulative, convertible $80 par, 11%, nonparticipating Required 1. Determine the amount of annual dividends on each issue of preferred stock and the total annual dividend on all four issues. issue 1 ($25 par, 10%) of preferred stock Issue 2 ($30 par, 8%, cumulative) of preferred stock Issue 3 (S50 par, 12%, cumulative, convertible) of preferred stock 12,000 Issue 4 ($80 par, 11%, nonparticipating) of preferred stock Total annual dividend Calculator 6,000 shares 11,000 shares 2,000 shares 15,000 shares 15,000 26,400vV 132,000 $185,400 2. Calculate what the amount of dividends in arrears would be if the dividends were omitted for i year Fetta Check My Work 2 more Check M Work uses remaining