SlashCo has 1,000 shares of $50 par 6 percent noncumulative preferred stock outstanding and 10,00…

SlashCo has 1,000 shares of $50 par 6 percent noncumulative preferred stock outstanding and 10,000 shares of common stock outstanding.

The corporation did not declare dividends last year; but the board has decided to declare $10,000 in cash dividends this year. What portion of the dividend is paid to the preferred stockholders?

 

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