eBook Problem 14-04 You are considering purchasing the preferred stock of a firm but are concerned about its capacity to pay the dividend. To help allay that fear, you compute the times preferred-dividend-earned ratio for the past three years from the following data taken from the firm's financial statements: Year Operating income Interest Taxes Preferred dividends Common dividends 20x1 20X2 20x3 $17,000,000 $17,000,000 $17,000,000 6,000,000 5,800,000 5,300,000 3,800,000 5,300,000 5,900,000 1.100,000 1,400,000 1,500,000 2,800,000 2,500,000 Round your answers to two decimal places 20X1 20x2: 20X3: What does your analysis indicate about the firm's capacity to pay preferred stock dividends? Times preferred dividend earned has -Select- each year, which indicates the firm's capacity to pay the dividend has -Select- Grade it Now Save & Continue Continue without saving