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