Texas Inc. has 10,000 shares of 6%, $125 par cumulative preferred stock and 50,000 shares of $1
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Question:
Texas Inc. has 10,000 shares of 6%, $125 par cumulative preferred stock and 50,000 shares of $1 par common stock outstanding at December 31. What is the annual dividend on the preferred stock?
a. $75,000 in total
b. $0.75 per share
c. $60 per share
d. $10,000 in total
Expert Answer:
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