2. XYZ Co. has the following stock: Common Stock, $50 par, 40,000 shares issued and outstanding Preferred Stock, 6%, $100 par, cumulative, 10,000 shares outstanding In 20X7 and 20X8, XYZ Co. did not pay any preferred dividends. How many dollars of Preferred Dividends must be paid to XYZ's preferred shareholders in 20X9 before any dividends may be paid to its common shareholders in 20X9? a. $60,000 b. C. d. $120,000 $180,000 $0- no dividends need be paid to preferred shareholders.