At the beginning of 2008, Doe Corp. issued 10,000 shares of $100 par, 4%, cumulative, preferred stock for $110 per share. No dividends have been paid to preferred shareholders. What amount of dividends will a shareholder owning 100 shares receive in 2010 if Doe pays $ 1,000,000 in dividends ?Doe Corp. issues 10,000 Pref. Cumulative shares for $100 each.Pref. Cumulative Shares has the priority of getting dividends than to Equity shareholders inregular course or in liquidation….
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