Grand Inc. issued 3,000 shares of preferred stock. The preferred stock contains the following features: 1. The holder is entitled to receive a promised dividend amount each year. If the dividend cannot be paid in a given year, the dividend does not accrue and past dividends need not be paid. 2. The company retains the right to redeem and cancel the preferred stock at any time it wishes. This preferred stock is: Select one: a. Noncumulative and voting preferred stock. b. Cumulative and callable preferred stock. c. Noncumulative and callable preferred stock. d. Cumulative and participating preferred stock