3 Pelletier Corporation has the following stock outstanding: Preferred Stock (6 percent, $100 par, 15,000 shares authorized, 5,000 shares issued and outstanding) Common Stock ($7 par, 250,000 shares authorized, 120,000 shares issued and outstanding) $ 500,000 S 840.000 Given this information,if Pelletier pays a $150,000 dividend, and if the preferred stock is cumulative and two years dividends are in arrears, common stockholders will receive: A $60,000 B $120,000 C $90,000 D $75,000