Question - Calculate the annual cash dividends required to be paid for each of the following preferred stock issuances:
(a) $2.40 cumulative preferred, no par value; 600,000 shares authorized, 470,000 shares issued, 28,000 shares held as treasury stock.
(b) 10 percent, $50 par value preferred; 200,000 shares authorized, 124,000 shares issued and outstanding.
(c) 12.5 percent cumulative preferred, $40 stated value, $42 liquidating value; 140,000 shares authorized, 92,000 shares issued, 88,000 shares outstanding.