Xener Inc. Inc., did not pay dividends in 2009 or 2010, even though 49,600 shares of its 7.2%, $70 par value cumulative preferred stock were outstanding during those years. The company has 238,000 shares of $3.5 par value common stock outstanding.
(a) Calculate the annual dividend per share obligation on the preferred stock.
Annual dividend per share $
b) Calculate the amount that would be received by an investor who has owned 190 shares of preferred stock and 260 shares of common stock since 2008 if a $.65 per share dividend on the common stock is paid at the end of 2011. (Round your answer to 2 decimal places.