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if preferred shares are callable, then: A. the corporation may, as its option, purchase the preferred shares for a specified cash price. B. The preferred

if preferred shares are callable, then:

A. the corporation may, as its option, purchase the preferred shares for a specified cash price.

B. The preferred shareholder can turn the preferred shares in for a specified cash price.

C. The shareholders can exchange the preferred shares owned for common shares.

D. There can not be dividends in arrears.

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