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For what reasons might a company like Apple repurchase some of its stock (treasury stock)? What are the principle differences between common stock and preferred

  1. For what reasons might a company like Apple repurchase some of its stock (treasury stock)?
  2. What are the principle differences between common stock and preferred stock?
  3. Preferred stock may be cumulative.Discuss this feature.Also address how dividends in arrears are presented in the financial statements.

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