Which of the Following Statements Is TRUE

Which of the following statements is TRUE?

A) Preferred shares will trade at a discount from par value when market rates are less than the dividend rate.
B) Preferred shares will trade at a premium when the market rate exceeds the dividend rate.
C) Preferred shares will trade at par when the dividend rate does not equal the market rate.
D) The market prices of preferred shares increase when market rates decline, and vice versa.