Item 9
Jim Corporation pays its cumulative preferred stockholders $1.80 per share. Jim has 20,000 shares of preferred and 75,000 shares of common. In 2021, 2022 and 2023, due to slowdowns in the economy, Jim paid no dividends. Now in 2024, the board of directors decided to pay out $570,000 in dividends.
How much of the $570,000 does each class of stock receive as dividends?
Note: Leave no cells blank - be certain to enter "0" wherever required.
What will be her additional annual premium?
In 3 years, what cash value will have been built up?
Note: Round your answer to the nearest cent.
If she decides to stop paying premiums after 10 years, what will be her cash value?