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Daisy Company LLC has 550 shares of $95 par value, 10% cumulative preferred stock, and...

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Accounting

Daisy Company LLC has 550 shares of $95 par value, 10% cumulative preferred stock, and 25,000 shares of $30 par value common stock outstanding. The following dividends were paid: Year 1: $4,000 Year 2: $35,000

What was the cash dividend paid to preferred shareholders in the second year? Select one:

a. $28,550

b. $35,000

c. $6,450

d. $0

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