At the End of Its First Year of Operations,Alder Co

Multiple Choice

At the end of its first year of operations,Alder Co.had 150,000 shares of preferred stock,5% cumulative,$100 par value.It also has 1,000,000 shares of common stock $0.01 par value.(The share information represents the numbers of shares issued and outstanding for both types of stock. ) If sufficient dividends are declared,what is the per share dividend that will be paid on the preferred stock?

A) $0.01 per share.
B) $100.00 per share.
C) $5.00 per share.
D) $7.50 per share.