Corrao Foods Corporation has 5000 shares of 7%,$15 par value,cumulative preferred stock and 150,000 shares of $1 par value common stock outstanding at December 31,2019 and December 31,2020.In 2019,a $2000 dividend was declared and paid.In 2020,$33,000 of dividends are declared and paid.What are the dividends received by the preferred stockholders in 2020 (assuming no dividends in arrears prior to 2019) ?
A) $33,000
B) $5250
C) $8500
D) $10,500
Correct Answer:
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