From Its Inception Through the Year of 2014, Quicksales Company

question 68

Multiple Choice

From its inception through the year of 2014, Quicksales Company was profitable and made strong dividend payments each year. In the year 2015, Quicksales had major losses and paid no dividends. In 2016, the company started making large profits again, and they were able to pay dividends to all shareholders-both common and preferred. There are 1,500 shares of cumulative, 7% preferred stock outstanding. The preferred stock has a par value of $100. What is the total amount of dividends that should be paid to the preferred shareholders in December, 2016?

• A)$33,500
• B)$22,000
• C)$10,500
• D)$21,000

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Definitions:

Passionate Love

An intense emotional and physical attraction to another person, often characterized by excitement and obsession.

Craving

A powerful and intense desire for a specific substance or experience, often associated with addiction.

Obsession

A persistent, unwanted, and intrusive thought, image, or urge that causes significant anxiety or distress.

Reward Theory

A psychological principle suggesting that behaviors are motivated by the anticipation of rewarding outcomes.