Multiple Choice
Trading Places,a multi-national corporation,had a very successful year.The board of directors declared and paid a cash dividend of $50,000.The prior year,Trading Places did not pay dividends on its 400 shares of noncumulative,8%,$100 par,preferred stock.How much of the cash dividend was paid to the PREFERRED shareholders?
A) $6,400
B) $3,200
C) $8,000
D) $4,000
Correct Answer:
Verified
Correct Answer:
Verified
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