Kuhns Corp. has 250,000 shares of preferred stock outstanding that is cumulative and 100,000 common stock outstanding. The preferred dividend is $6.30 per share and has not been paid for 3 years. If Kuhns earned $2.00 million this year, what could be the maximum payment to the preferred stockholders on a per share basis? (Round your answer to 2 decimal places.)

* $9.50 per share
* $8.00 per share
* $6.90 per share
* $10.25 per share