CorpCo Gathered the Following Information as of the End of the Current

question 70

Essay

CorpCo gathered the following information as of the end of the current fiscal year:
​ $$\begin{array} { | l | r | } \hline \text { Dividends on common stock } & \$ 125,000 \\\hline \text { Market price per share of common stock } & \$ 115.00 \\\hline \text { Shares of common stock outstanding } & 5,000 \\\hline \text { Dividends on preferred stock } & \$ 65,000 \\\hline \text { Shares of preferred stock outstanding } & 600 \\\hline \text { Earnings per share on common stock } & \$ 102.00 \\\hline \text { Dividends per share of common stock } & \$ 25.00 \\\hline \text { Net income } & \$ 575,000 \\\hline\end{array}$$ ​
What is CorpCo's dividend yield? Write your answer as a percent, rounded to one decimal place.

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Definitions:

Add New

A command or option in software applications for creating a new file, record, account, or other items.

Allowance Method

A financial approach used to anticipate and adjust for potential credit losses in accounts receivable.

Uncollectible Accounts Expense

An expense recorded by businesses to account for receivables that are considered irrecoverable, indicating customers are unlikely to pay their debts.

Sales Receipts

Documents that provide detailed information about a sale transaction, including the date of sale, items sold, and amounts charged.