The annual per share dividend requirement of a 6 80 par, Ask an Expert

Accounting

Can you please help me figure out how to do this calculation? I can't figure it out. I know the 6% is the dividend for the year, but I don't understand the $80 and the $85 that it was issued for. Thank you!

The annual per share dividend requirement of a 6%, $80 par value preferred stock that was issued for $85 is:

a. $4.80

b. $5.10

c. $6.00

d. $8.00

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M954704

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