On January 2, 2011, Pacer Corporation issued 30,000 shares of 5% cumulative preference shares at $100 par value. On December 31, 2014, Pacer Corporation declared and paid its first dividend. What dividends are the preference shareholders entitled to receive in the current year before any distribution is made to ordinary shareholders?

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The Answer of On January 2, 2011, Pacer Corporation issued 30,000 shares of 5% cumulative preference shares at $100 par value. On December 31, 2014, Pacer Corporation declared and paid its first dividend. What dividends are the preference shareholders entitled to receive in the current year before any distribution is made to ordinary shareholders?

On January 2, 2011, Pacer Corporation Issued 30,000 Shares of 5