Accounting Question?

Question: Sun Inc. has 5,000 shares of 5%, 100$ par value, cumulative preferred stock and 50,000 shares of $1 par value common stock outstanding at December 31, 2003. What is the annual dividend on the preferred stock?

a. $50 per share
b. $25,000 in total
c. $600 in total
d. $0.50 per share

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The answer is b.

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