Answer:
$622,000
Explanation:
Annual dividend = 31,100 × 5% × $100 = $155,500
Since it a cumulative preferred stock, it implies that dividend for each of the previous years when dividend were not paid by Sunland Corporation will be accumulated and paid together with the current one.
Since January 2, 2014 to December 31, 2017 is 4 years, that means dividend will be paid to cumulative preferred stock holders for 4 years as follows:
Preferred stockholders dividend for 4 years = $155,500 × 4 = $622,000
Therefore, preferred stockholders are entitled to receive $622,000 in the current year before any distribution is made to common stockholders.
A credit card issuer would charge a late-payment fee if there is an unpaid minimum credit card fee or other payment from your credit card until the due date. The late-payment fee is calculated based on your unpaid minimum credit card fee. It will not exceed the amount of your unpaid minimum<span> credit card fee.</span>
Business Financial Management
Answer:allocative efficiency; marginal costs
Explanation:allocative efficiency is at an output level where the Price equals the Marginal Cost (MC) of production. This is because the price that consumers are willing to pay is equivalent to the marginal utility that they get. Therefore the optimal distribution is achieved when the marginal utility of the good equals the marginal cost.
The marginal cost is the cost of producing one additional item and is used to pinpoint the optimal economy of scale. The marginal benefit is the greater enjoyment created by producing one additional item.
