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

Exercise 111

Apex Developers, Inc., has 1,800,000 shares of $100 par value, 5%, cumulative preferred stock and 9,750,000 shares of common stock. Although no dividend was declared for the past two years, a $44,000,000 dividend has been declared for this year.
a. How much is due the preferred shareholders
b. What is the dividend per share of common stock