Tri-State Industries has both common and noncumulative preferred stock outstanding. The dividends upon these stocks are $1.35 each quarter for common and $2.10 each quarter for preferred. The company hasn't paid any dividends for past three quarters but is expected to pay dividends upon both the common and the preferred stock next week. Determine the minimum amount the firm must pay per share to its preferred stockholders next week if it plans to pay a common dividend?
A) $8.40
B) $2.10
C) $4.20
D) $6.30
E) $0