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1. Which of the following best describes straight preferred stock? - Preferred stock with dividends that vary from period to period. - Preferred stock with

1. Which of the following best describes straight preferred stock?

- Preferred stock with dividends that vary from period to period.

- Preferred stock with no embedded option, for which the issuer promises to pay a fixed, periodic dividend.

- Preferred stock with an embedded option, such as convertibility or callability.

- Preferred stock with a maturity.

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