Solve the problem. Round to the nearest cent.Nelson Heating paid no dividends for 2 years. After 3 years, a dividend of $1,500,000 was declared. Find the dividend per share if the company had 10,000 cumulative preferred shares outstanding of $130 par value at 11% and 277,000 common shares.

A. Preferred: $49.50
Common: $3.63
B. Preferred: $28.60
Common: $4.38
C. Preferred: $42.90
Common: $3.87
D. Preferred: $14.30
Common: $4.90


Answer: C

Mathematics

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