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 $ 200 Year 2 $ 200 Year 3 $ 1,200 Y

ear 3 Dividends received by the Preferred shareholders is:

Select one: a. $400 b. $800 c. $600 d. $1,200 e. $200