Multiple Choice
A company issues 100,000 shares of preferred stock for $40 a share.The stock has fixed annual dividend rate of 5% and a par value of $3 per share.Preferred stockholders can anticipate receiving a dividend of:
A) $5,000 each year.
B) $15,000 each year.
C) 5% of net income each year.
D) $3 per share.
Correct Answer:
Verified
Correct Answer:
Verified
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