ABC, Inc.has 1,000 shares of 5%, $100 par value, cumulative preference shares and 50,000 ordinary shares with a $1 par value outstanding at December 31, 2011.What is the annual dividend on the preference shares?
A) $50 per share
B) $5,000 in total
C) $500 in total
D) $.50 per share
Correct Answer:
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