At the beginning of 20x1, a company issues 100,000 shares of 4%, $10 par value, cumulative preferred stock. all remaining shares outstanding are common stock. the company does not pay any dividends in 20x1, but pays dividends of $100,000 at the end of 20x2. how much of the dividend will be paid to common stockholders in 20x2?

S. you are changing planes in london for a flight to paris where you will connect with your flight to capetown. you are picking up reading material for the flight and are looking at the prices listed on the economist magazine which conveniently lists prices in several different global currencies. you note that the price in pounds is 2.40 pounds and the price in euros is 2 euros. the exchange rate for the dollar (your credit card was issued in the usa) is $1.59/pound and s1.3837/euro. should you buy reading materials now or wait until you're in paris?