Question: Which is the correct option? please show the work to get to that answer. ABC, Inc. has 3,000 shares of 6%, $100 par value, cumulative

Which is the correct option? please show the work to get to that answer.

ABC, Inc. has 3,000 shares of 6%, $100 par value, cumulative preferred stock and 50,000 shares of $1 par value common stock outstanding at December 31, 2006. What is the annual dividend on the preferred stock?

	A.	$5 per share
	B.	$100 per share
	C.	$3,000 in total
	D.	$18,000 in total

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