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Ozark Distributing Company is primarily engaged in the wholesale distribution of consumer products in the ozark Mountain regions. The following disclosure note appeared in the company's 2016 annual report Note 5. Convertible Preferred Stock (in part) The Company has the following Convertible Preferred stock outstanding as of September 2016 Date of issuance: June 17, 2013 Optionally redeemable beginning June 18, 2015 Par value (gross proceeds) 3,750,000 Number of shares 150.000 Liquidation preference per share 26 Conversion price per share: 32.38 Number of common shares in which to be converted 115.812 Dividend rate 6735% The Preferred Stock is convertible at any time by the holders into a number of shares of ozark's common stock equal to the number of preferred shares being times a fraction equal to $25 divided by the conversion price The conversion prices for the Preferred Stock are subject to customary adjustments in the stock splits stock dividends and certain other distributions on the Common Stock. Cumulative dividends for the Preferred Stock are payable in arrears when as and if declared by the Board of Directors 31 June 30 September 30, and December 31 of each year The Preferred Stock is optionally redeemable by the Company beginning on various dates as listed t redemption prices equal to 120% of the liquidation preference The redemption prices decrease n price equals the liquidation preference after which date i 1. What amount of dividends is paid annually to a pre er ed shareholder owning 200 shares of the Series preferred stock? (Round "Dividend Rate to 3 decimal placer

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