Patch, Inc plans to distribute $134,000 in dividends. It has outstanding 200,000 shares of 7% $10 par preferred stock (cumulative) and 60,000 shares of $2 par common stock. How much will be distributed per share on preferred and common stock? Preferred stock Common stock
A) $3.35 $1.12
B) $0.70 $2.00
C) $0.67 $ -0-
D) $1.68 $1.68
C
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