Texas Inc. has 7,000 shares of 8%, $125 par value cumulative preferred stock and 84,000 shares of $1 par value common stock outstanding at December 31. What is the annual dividend on the preferred stock? a. $6,720 in total b. $0.01 per share c. $70,000 in total d. $80.00 per share
Texas Inc. has 7,000 shares of 8%, $125 par value cumulative preferred stock and 84,000 shares of $1 par value common stock outstanding at December 31. What is the annual dividend on the preferred stock? a. $6,720 in total b. $0.01 per share c. $70,000 in total d. $80.00 per share
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Texas Inc. has 7,000 shares of 8%, $125 par value cumulative preferred stock and 84,000 shares of $1 par value common stock outstanding at December 31. What is the annual dividend on the preferred stock?
a. $6,720 in total
b. $0.01 per share
c. $70,000 in total
d. $80.00 per share
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