Riga Ltd. has outstanding 100,000 no par common shares and 20,000 no par, $0.40, preferred shares issued
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Riga Ltd. has outstanding 100,000 no par common shares and 20,000 no par, $0.40, preferred shares issued at $5 each. The preferred shares are cumulative and non-participating. Dividends have been paid every year except the past two years and the current year. Assuming that $21,000 will be distributed as a dividend in the current year, how much will the preferred shareholders receive?
- $21,000
- $0
- $8,000
- $16,000
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Preferred dividend per year 20000 shares 040 8000 Dividend f... View the full answer
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