Question 6 (1 point) Company A has a 5.8% cumulative preferred share issue outstanding that pays dividends annually. In 2019 the company paid no dividends and in March 2020, the Board of Directors declared a 6.8% dividend rate as a partial repayment of the dividends in arrears. John purchased these shares in 2015 and sold them in January 2020, before the dividends were declared. What dividend payment is John entitled to in 2020? a) Payment at 6.8% dividend rate. b) Payment at 5.8% dividend rate. c) Payment at 1.7% dividend rate. d) John is not entitled to any dividends