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1. (3 pts) Preferred stock A) will be paid before the bondholders when the firm is in liquidation. B) will be paid before common stockholders

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1. (3 pts) Preferred stock A) will be paid before the bondholders when the firm is in liquidation. B) will be paid before common stockholders when the firm is in liquidation. C) reflects residual ownership of a company. D) always has a legal and specific claim to a fixed amount of the firm's cash flows (listed as a liability)

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