Contemporary Mathematics for Business & Consumers 8th Edition by Robert Brechner,Geroge Bergeman

Exercise 134

The board of directors of Micro-Fine Fabricators, Inc., has declared a dividend of $16,000,000. The company has 800,000 shares of preferred stock that pay $4.90 per share and 8,200,000 shares of common stock.
a. What are the dividends due the preferred shareholders
b. What is the dividend per share of common stock