Multiple Choice
Cork Inc. declared a $160,000 cash dividend. It currently has 6,000 shares of 6%, $100 par value cumulative preferred stock outstanding. It is one year in arrears on its preferred stock. How much cash will Cork distribute to the common stockholders?
A) $88,000.
B) $72,000.
C) $124,000.
D) None of these answers are correct.
Correct Answer:
Verified
Correct Answer:
Verified
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