What is the annual dividend on the preferred stock?
Miriah Inc. has 6,000 shares of 5%, $100 par value, cumulative preferred stock and 50,000 shares of $1 par value common stock outstanding at December 31, 2012. What is the annual dividend on the preferred stock?
Answer
$50 per share
$30,000 in total
$300 in total
$0.50 per share