Question: Question Content Area Texas Inc. has 5 , 7 0 3 shares of 5 % , $ 1 0 0 par cumulative preferred stock and

Question Content Area
Texas Inc. has 5,703 shares of 5%, $100 par cumulative preferred stock and 80,295 shares of $1 par common stock outstanding at December 31. What is the annual dividend on the preferred stock?
a. $4,015 in total
b. $2.85 per share
c. $28,515 in total
d. $50.00 per share

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