The yearly income that matt can expect from his stock is $920,040.
Stock yearly income to expect:
Using this formula
Yearly income=Number of shares of preferred stock × Share return
Where:
Number of shares of preferred stock=492,000 shares
Share return=$1.87
Let plug in the formula
Yearly income=492,000×$1.87
Yearly income=$920,040
Inconclusion the yearly income that matt can expect from his stock is $920,040.
Learn more about yearly income here:https://brainly.com/question/8508440
