Given the following for the Titan Company; the company began operations on 1/1/1. Preferred Stock, 4%, Cumulative $10,000 Common Stock $20,000 Cash Dividends paid Year 1 $ 1,000 Year 2 $ 200 Year 3 $ 2,000 Year 3 Dividends received by the Preferred shareholders is: Select one: a. $400 b. $800 c. $600 d. $1,200

explain the answer please!