The True Blue Corporation issues preferred stock that requires the payment of a quarterly dividend of $2.00 per share. The True Blue Corporation falls behind with six quarterly payments$12.00 per share of preferred stock. The next quarter, the corporation makes a profit of $14.00 per share. The corporation must pay the $12.00 per share of arrearages to the preferred shareholders plus this quarter's payment of $2.00 per share. Thus, the common shareholders receive nothing. Which kind of preferred stock is the True Blue Corporation issuing