Red River Corporation has 24,000 shares of 11 percent noncumulative preferred stock and 60,000 shares of common stock outstanding. Par value for each is $10. The company paid no dividends last year. This year, a $100,000 dividend is paid. How much of the $100,000 is paid to the preferred shareholders?

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The Answer of Red River Corporation has 24,000 shares of 11 percent noncumulative preferred stock and 60,000 shares of common stock outstanding. Par value for each is $10. The company paid no dividends last year. This year, a $100,000 dividend is paid. How much of the $100,000 is paid to the preferred shareholders?

Red River Corporation Has 24,000 Shares of 11 Percent Noncumulative