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Buzz inc has 8000 shares of 5 50 par cumulative preferred

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Buzz, Inc. has 8,000 shares of 5%, $50 par, cumulative preferred stock and 50,000 shares of $3 par common stock outstanding. No dividends were declared last year, however, a dividend of $50,000 was declared and paid this year. What amount of the total dividend was paid to common stockholders?

a. $10,000

b. $30,000

c. $15,000

d. $50,000

Reference no: EM13460554

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