1. As 2017, Buttle Corp. has $10 par, 2% preferred stock, 6,500 shares outstanding, and $1 par common stock with 32,000 shares outstanding. The preferred stock is cumulative and preferred stockholders last received a dividend in 2014.
If the company wants to distribute $4 per share to the common stockholders in 2017, what is the total amount of dividends that the company must pay at the end of the current year?
A. $129,300
B. $128,000
C. $ 3,900
D. $131,900
E. None of the above
2. A person who has the responsibilty for accepting or rejecting the issuance of an insurance policy is an _____.
independent agent
underwriter
exclusive agent
insured