Multiple Choice
Kuhns Corp. has 200,000 shares of preferred stock outstanding that is cumulative. The dividend is $6.50 per share and has not been paid for 3 years. If Kuhns earned $3 million this year, what could be the maximum payment to the preferred shareholders on a per share basis?
A) $19.50 per share
B) $15.00 per share
C) $13.00 per share
D) $6.50 per share
Correct Answer:
Verified
Correct Answer:
Verified
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