11. Which of the following statements is FALSE? a. Common stock dividends are cumulative; if the firm misses a dividend, it must eventually make it up. b. Common stockholders have limited liability - you can't lose more than you invested. c. A preemptive right allows current stockholders to buy newly issued shares of common stock before outsiders can so they can keep their voting power. d. Morainne has preferred stock that pays a $3.50 dividend every year. If this issue sells for $85 per share, then investors required return must equal 4.12% 12. You were given the following timeline of dividends. Following T=2, dividends will grow at 25% for one year and then slow to a constant 3% thereafter. If you require a 10% return, the stock price today would be closest to