From Its Inception Through the Year of 2017,First Mart,Inc

question 79

Multiple Choice

From its inception through the year of 2017,First Mart,Inc.was profitable and made strong dividend payments each year.In the year 2018,First Mart had major losses and paid no dividends.In 2019,the company started making large profits again,and they were able to pay dividends to all shareholders-both common and preferred.There are 2000 shares of cumulative,10% 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 stockholders in December,2019?

• A) $60,000
• B) $90
• C) $20,000
• D) $40,000

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Definitions:

Race

A social construct used to categorize humans into large and distinct populations based on various factors such as ancestry, physical appearance, and cultural history.

Chesapeake Region

An area in the United States encompassing parts of Virginia and Maryland, notable for its early role in American colonial history.

Social Division

The segregation of society into groups based on socioeconomic, racial, ethnic, or other distinctions, often leading to inequality and tension.

White Virginia Families

Refers to elite family networks within colonial Virginia, notable for their influence in social, economic, and political spheres during the 17th and 18th centuries.