Solve the problem. Round to the nearest cent.Wonder View Amusement Park sold 29,000 shares of $160 par value, 11% preferred stock to finance an expansion. It already had 471,000 shares of common stock. Find the dividend per share if the total profit was $1,480,000, and 40% was distributed to shareholders.
A. Preferred: $17.60
Common: $0.17
B. Preferred: $17.60
Common: $2.06
C. Preferred: $5.61
Common: $2.80
D. Preferred: $2.25
Common: $1.12
Answer: A
Mathematics
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