ABC, Inc. has 1,000 shares of 4%, $100 par value, cumulative preference shares and 50,000 ordinary shares with a $1 par value outstanding at December 31, 2014. What is the annual dividend on the preference shares?
A) $40 per share
B) $4,000 in total
C) $400 in total
D) $.40 per share
Correct Answer:
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