Annual Dividend

[sdamico71]

XYZ Corporation has issued 575,999 shares of common stock and 100,000 shares of cumulative preferred stock. Annual dividends on the cumulative preferred stock are $4 per share. Last year, dividends of $2.50 per share were paid to preferred stockholders. This year the company has $1,990,000 net income and the board of directors decide to distribute 60% of net income as dividends. If you own 300 shares of common stock in XYZ Corporation, what will the total amount of your annual dividend be? Round your final answer to the nearest dollar.
The answers are:
a. 336
b. 414
c. 783
d. 750

I thought the answer was 414 based on my equation, but that is incorrect. Help me figure out where I went wrong.
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[mmm4444bot]

… I thought the answer was 414 based on my equation, but that is incorrect. Help me figure out where I went wrong.​

We can't see where you went wrong because you forgot to show us what you tried.

Please post your equation and steps.

 

[Denis]

XYZ Corporation has issued 575,999 shares of common stock...

Huh? Why not 576,000

Seems to be something wrong with the problem's wording:
all references are to preferred...none to common...

Dividing the 4 choices by 300 gives:
336: 1.12
414: 1.38
750: 2.50
783: 2.61
...could possibly help on a timed test.

Anyhoo, as Mark said, please show your work/reasoning...