Common stock, $20 par value (no change during the year) $5,000,000
Preferred $10 stock, $40 par (no change during the year) $ 800,000
Net income 600,000, declared dividends on common stock 125,000 Market price of the common stock is $20 per share

How do I calculate the preferred dividend? The explanation I got gives me a crazy number.
Thanks

I addressed your question over here:
https://www.askmehelpdesk.com/accoun...ck-286952.html

Posting the same question over and over gets confusing from our side.