Multiple Choice
A firm has issued cumulative preferred stock with a $100 par value and a 12 percent annualdividend. For the past two years the board of directors has decided not to pay a dividend. Thepreferred stockholders must be paid___________ prior to paying the common stockholders.
A) $36/share
B) $12/share
C) $ 0/share
D) $24/share
Correct Answer:
Verified
Correct Answer:
Verified
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