Waldorf Ltd. issued 3,000 shares of 5% Cumulative Preferred Stock with $100 par value for $350,000 on January 1, 2020. Waldorf did not declare a dividend during 2020 but did declare a dividend of $75,000 during 2021. How much of this dividend will the Cumulative Preferred Shareholders of Waldorf receive? A. $17,500 B. $30,000 O C. $15,000 D. $35,000