The Board of Directors of Deerfield Corp has decided to distribute $550,000 to its stockholders. There are 75,000 shares of 8% preferred stock, $80 par value, and 25,000 shares of common stock. What is the dividend per share to be paid to common stockholders?
a. $2.80
b. $2.24
c. $5.12
d. $6.40
a
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