Preferred stock with a $100 par value and a 5 percent dividend is currently trading on the market at $90 per share.What is the amount of the dividend the holder is entitled to receive each year on each share?
A) $90
B) 5 percent of $90
C) 5 percent of total corporate profits divided by the number of shares outstanding
D) $5
E) None of these
Correct Answer:
Verified
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