Wireless, Inc. has outstanding 500,000 shares of $2 par common stock and 100,000 shares of...
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Wireless, Inc. has outstanding 500,000 shares of $2 par common stock and 100,000 shares of 8% preferred stock with a par value of $5. The preferred stock is cumulative and nonparticipating. Dividends have been paid in every year except the past two years and the current year. Assuming that $105,000 will be distributed as a dividend in the current year, how much will the preferred stockholders receive?
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