Topper Corporation Has 60,000 Shares of $1 Par Value Common

question 4

Multiple Choice

Topper Corporation has 60,000 shares of $1 par value common stock and 16,000 shares of cumulative 7%,$100 par preferred stock outstanding.Topper has not paid a dividend for the prior year.If Topper declares a $1.95 per common share dividend this year,what will be the total amount they must pay their shareholders?

• A)$117,000
• B)$341,000
• C)$327,000
• D)$177,000

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