1. Which of the following is not correct regarding preferred stock: a. Similar to a bond, the periodic payment from preferred stock (in the form of a dividend) is fixed. b. Preferred stock shareholders usually don't have voting rights except in unusual circumstances. C. Cumulative preferred stock demands that any missed dividend payments must be paid to the holder of preferred stock before any dividends are paid to common stockholders. d. Non-payment of a preferred stock dividend is an event of default and could lead to the transfer of assets from common shareholders to preferred shareholders