A particular issue of stock carries a stated dividend rate of 8 %; - 8148

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Request Description
 A particular issue of stock carries a stated dividend rate of 8 %; that if this dividend is not paid during a particular year, it will be paid in a subsequent year before common stock dividends are paid; and that upon liquidation of the corporation, the owner will receive $300 per share before the common stockholders get anything. This stock is 
 
A.   noncumulative preferred stock with a liquidation preference 
 
B.   preferred stock 
 
C.   cumulative preferred stock with a liquidation preference 
D.   common stock 
 
Solution Description
 A particular issue of stock carries a stated dividend rate of 8 %; that if this dividend is not paid during a particular year,