Acorporation has 24 comma 000 shares of 10%, $ 60.00 par cumulative preferred stock outstanding and 37 comma 000 shares of nominuspar common stock outstanding. preferred dividends of $ 13 comma 000 are in arrears. at the end of the current year, the corporation declares a dividend of $ 222 comma 000. how is the dividend allocated between preferred and common stockholders?

You are the owner of a local honda dealership. unlike other dealerships in the area, you take pride in your “no haggle” sales policy. last year, your dealership earned record profits of $1.5 million. however, according to the local chamber of commerce, your earnings were 10 percent less than either of your competitors. in your market, the price elasticity of demand for midsized honda automobiles is 4.5. in each of the last five years, your dealership has sold more midsized automobiles than any other honda dealership in the nation. this entitled your dealership to an additional 30 percent off the manufacturer’s suggested retail price (msrp) in each year. taking this into account, your marginal cost of a midsized automobile is $11,000. what price should you charge for a midsized automobile if you expect to maintain your record sales?