Nichols, Inc. has 3,000 shares of 4%, $100 par value, cumulative preferred stock and 75,000 shares of $1 par value common stock outstanding at December 31 of the current year. What is the annual dividend that will be paid to the preferred stockholders? O A. $3,000 OB. $12,000 OC. $300,000 OD. $0. Preferred stockholders are not guaranteed an annual dividend payment