Data tablePlatinum Garde, Inc. has 150,000 shares of $1.25 cumulative preferred shares outstanding in addition to its common shares. Assume that in 2020 , Platinum Garde declares an annual dividend of $1,005,000. The allocation to preferred and common shareholders is as follows: (Click the icon to view the data.) Answer these questions about Platinum's cash dividends: Requirement 1. How much in dividends must Platinum declare each year before the common shareholders receive any cash dividends for the year? Platinum Garde must declare dividends of s each year before the common shareholders receive any cash dividends for the year. Requirement 2. Suppose Platinum declares cash dividends of $250,000 for 2020 . How much of the dividends go to preferred? How much go to common? Requirement 3. Are Platinum's preferred shares cumulative or non-cumulative? How can you tell? Platinum Garde's preferred shares are because preferred shares are unless they are stated as Requirement 4. Platinum passed the preferred dividend in 2018 and 2019. Then in 2020, Platinum declares cash dividends of $1,500,000. How much of the dividends go to preferred? How much go to common?.

1. DEF Company also has preferred stock outstanding that pays a $1.95 per share fixed dividend. If
this stock is currently priced at $25.5 per share, what is DEF Company's cost of preferred stock?
Enter your answer as a percentage and rounded to 2 DECIMAL. PLACES. Do not include a
percent sign in your answer. Enteryour response below. Click "Verity" to proceed to the next part
of the question.