Randolph Corporation has 24,000 shares of 11 percent noncumulative preferred stock and 60,000 shares of common stock outstanding.Par value for each is $20.The company paid no dividends last year.This year,a $200,000 dividend is paid.How much of the $200,000 is paid to the preferred shareholders?

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The Answer of Randolph Corporation has 24,000 shares of 11 percent noncumulative preferred stock and 60,000 shares of common stock outstanding.Par value for each is $20.The company paid no dividends last year.This year,a $200,000 dividend is paid.How much of the $200,000 is paid to the preferred shareholders?

Randolph Corporation Has 24,000 Shares of 11 Percent Noncumulative Preferred