Nichols, Inc. has 5,000 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? A. $500,000 B. $20,000 C. $5,000 D. \$0. Preferred stockholders are not guaranteed an annual dividend payment