9 If a preferred stock is cumulative, and dividends are not paid in a particular year, a the issue is considered in default b then the preferred stock legally becomes a debt instrument c then it might as well be common stock d they will be paid forward in arrearage 10 Manny borrows $100,000 from his neighborhood bank. The loan terms are 10 years, monthly payments. The borrowing rate is 5.45%, Calculate Manny's monthly payment a 1,092.33 b 1,085.33 C 1,082.79 d 1,072.92