Calculate the annual cash dividends required to be paid for each of the following preferred stock issues:
a. $2.20 cumulative preferred, no par value; 210,000 shares authorized, 126,000 shares issued. (The treasury stock caption of the stockholders’ equity section of the balance sheet indicates that 40,727 shares of this preferred stock issue are owned by the company.) (Round your answer to 2 decimal places.)
b. 5%, $50 par value preferred, 296,000 shares authorized, 171,000 shares issued, and 73,038 shares outstanding. (Round your answer to 2 decimal places.)
c. 11.4% cumulative preferred, $100 stated value, $102 liquidating value; 78,000 shares authorized, 45,000 shares issued, 34,000 shares outstanding.