(Answered) Classic cars corp has50000 shares of10 par common stock

Accounting

Classic Cars Corp. has50,000 shares of$10 par common stock and20,000 shares of$15 par fully participating10% cumulative preferred stock. If the company declares cash dividends of$100,000 during the current year and there are no dividends inarrears, what will be the total dividend payment to preferred share holders?

A. $42,500
B. $57,500
C. $37,500
D. $62,500

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