Which one of the following statements is correct?
A. Preferred stock can be callable.
B. Preferred stock generally has a stated liquidation value of $1,000 per share.
C. Dividend payments to preferred shareholders are tax-deductible expenses for the issuing firm.
D. Preferred dividends are generally variable in amount.
E. Preferred shareholders receive preferential treatment over bondholders in a liquidation.
Ans: A. Preferred stock can be callable.
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