Multiple Choice
Salmon,Inc.issues 500,000 shares of preferred stock for $60 a share.The stock has a fixed annual dividend rate of 5% and a par value of $18 per share.The current price of the preferred stock is $64 a share.If sufficient dividends are declared,preferred stockholders can anticipate receiving annual dividends of:
A) $0.90 per share.
B) $3.00 per share.
C) $3.20 per share.
D) $2.10 per share.
Correct Answer:
Verified
Correct Answer:
Verified
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