What are the annual dividends on preferred stock, $31 par, 2,200 shares authorized, 1,200 shares issued, and a dividend rate of 3%? (Round your answer to the nearest dollar.)

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Quizplus · Accepted Answer

The annual dividends on preferred stock can be calculated as follows:Annual dividends = Number of shares issued * Par value per share * Dividend rate= 1,200 shares * $31 par value * 3% dividend rate= 1,200 * $31 * 0.03= $1,116

What Are the Annual Dividends on Preferred Stock, $31 Par