Penny's outstanding stock is 200 shares of $100, 9% cumulative preferred stock and 2,000 shares of $10 par value common stock. Penny paid $1,200 cash dividends during the year. The amount preferred stockholders received is: O $1,200 O $1,800 0 $90 None of the choices are correct. O $900

Penny's outstanding stock is 200 shares of $100,9% cumulative preferred stock and 2,000 shares of $10 par value common stock. Penny paid $1,200 cash dividends during the year. The amount preferred stockholders received is: $1,200 $1,800 $90 None of the choices are correct. $900