Sun Inc. has 5,000 shares of 6%, $100 par value, cumulative preferred stock and 50,000 shares of $1 par value common stock outstanding at December 31, 2007.

What is the annual dividend on the preferred stock?a. $60 per shareb. $30,000 in totalc. $3,000 in totald. $0.60 per share

Simply we multiply the total value of the shares with the dividend rate given for the preference stockholders so that the annual dividend can computed

All other information which is given is not relevant. Hence, ignored it

Sun Inc. has 5,000 shares of 6%, $100 par value, cumulative preferred stock and 50,000 shares of $1 par value common stock outstanding at December 31, 2007. What is the annual dividend on the preferred stock?a. $60 per shareb. $30,000 in totalc. $3,000 in totald. $0.60 per share

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Sun Inc. has 5,000 shares of 6%, $100 par value, cumulative preferred stock and 50,000 shares of $1 par value common stock outstanding at December 31, 2007.

What is the annual dividend on the preferred stock?a. $60 per shareb. $30,000 in totalc. $3,000 in totald. $0.60 per share