A particular issue of stock carries a stated dividend rate of 8 percent; provides that if this dividend is not paid during a particular year, it will be paid in a subsequent year before common stock dividends are paid; and provides that upon liquidation of the corporation, the owner will receive $300 per share before the common stockholders get anything. This stock is:

A) Common stock.

B) Straight preferred stock.

C) Cumulative preferred stock with a liquidation preference.

D) Noncumulative preferred stock with a liquidation preference