The total dividend that the Preferred Shareholders will receive in year 2014 is $3,960.
Given Information
5% Cumulative Preferred Stock Dividend
For Year 2013:
Dividend = $39,600 * 5%
Dividend = $1,980
For Year 2014
Dividend = $39,600 * 5%
Dividend = $1,980
Total Dividend received in Year 2014 = $1,980 + $1,980
Total Dividend received in Year 2014 = $3,960
Therefore, the total dividend that the Preferred Shareholders will receive in year 2014 is $3,960.
Missing question includes "Mason Transport has the following stock outstanding at December 31, 2014 5% Cumulative preferred stock, $12 Par Value $39,600 Common stock, $0.10 Par Value 12,000 Mason paid no dividends during 2013. During 2014, it declares $13,000 of dividends. How much of the $13,000 will preferred stockholders receive? $1,980 $3,960 $1,083 None of the answer choices are correct."
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