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What is the annual dividend on the preferred stock

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Question - Texas Inc. has 11,000 shares of 8%, $125 par value cumulative preferred stock and 97,000 shares of $1 par value common stock outstanding at December 31. What is the annual dividend on the preferred stock?

a. $7,760 in total

b. $110,000 in total

c. $0.01 per share

d. $80.00 per share

Reference no: EM133055965

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