If a corporation issues cumulative, participating preferred stock, which of the following is true regarding the rights of the preferred stockholders?

If a corporation issues cumulative, participating preferred stock, which of the following is true regarding the rights of the preferred stockholders? a. They will have an option to convert their shares to common stock at a specified date. b. They must forego dividends for any periods when no dividends are declared. c. They will share the dividends that exceed a specified amount. d.They will receive a fixed dividend regardless of the amount of dividends declared