When Ira purchased 500 shares of preferred stock in the Fairlawn Corporation, his certificate indicated the stock had a par value of $50 per share. This means that Ira
A) will never get less than $50 per share when selling his stock.
B) has shares that are currently worth $50 per share.
C) may receive dividends based on this value per share.
D) must receive a $5 dividend each and every year.
Correct Answer:
Verified
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