Assume that a corporation has 1,500 shares of $20 par, 10% preferred stock and 1,000 shares of $10 par common stock outstanding. The amount available to dividends is $10,000 . How much of the dividend is for preferred stock?
a. $10
b. $1,500
c. $1,000
d. $2,500
e. $3,000
e
Business
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