Author Question: The board of directors of Midwest Foods has declared a dividend of 3,500,000. The company has ... (Read 97 times)

fox · **on:** Jun 24, 2018

The board of directors of Midwest Foods has declared a dividend of 3,500,000. The company has 300,000 shares of preferred stock that pay 2.85 per share and 2,500,000 shares of common stock. After finding the amount of dividends due the preferred shareholders, calculate the dividend per share of common stock.
A) 1.06
B) 1.57
C) 13.50
D) 4.50

Question 2

Caridad borrowed 15,500 at 11 ordinary interest for 120 days. After 70 days, she made a partial payment of 3,000. What is the final amount due on the loan? (Round to the nearest cent)
A) 13,921.56
B) 14,596.22
C) 13,027.57
D) 12,943.06