Calculate the Annual Cash Dividends Required to Be Paid for Each

question 40

Essay

Calculate the annual cash dividends required to be paid for each of the following preferred stock issuances:
(a.) $2.40 cumulative preferred, no par value; 300,000 shares authorized, 235,000 shares issued, 14,000 shares held as treasury stock.(b.) 10%, $50 par value preferred; 100,000 shares authorized, 62,000 shares issued and outstanding.(c.) 13% cumulative preferred, $40 stated value, $42 liquidating value; 70,000 shares authorized, 46,000 shares issued, 44,000 shares outstanding.