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Texas Inc. has 7,000 shares of 6%, $125 par value cumulative preferred stock and 100,000 shares of $1 par value common stock outstanding at

Texas Inc. has 7,000 shares of 6%, $125 par value cumulative preferred stock and 100,000 shares of $1 par value common stock outstanding at December 31. What is the annual dividend on the preferred stock? Oa. $6,000 in total Ob. $0.01 per share Oc. $52,500 in total Od. $60.00 per share

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