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Business, 15.11.2019 19:31 HyperZ

The true blue corporation issues preferred stock that requires the payment of a quarterly dividend of $2.00 per share. the true blue corporation falls behind with six quarterly payments—$12.00 per share of preferred stock. the next quarter, the corporation makes a profit of $14.00 per share. the corporation must pay the $12.00 per share of arrearages to the preferred shareholders plus this quarter’s payment of $2.00 per share. thus, the common shareholders receive nothing. which kind of preferred stock is the true blue corporation issuing?

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