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Investors purchase preferred stock because: 1 Preferred stock offers an opportunity for a guaranteed annual dividend. 2 Preferred dividends are increased each year. 3 Preferred

Investors purchase preferred stock because:

1 Preferred stock offers an opportunity for a guaranteed annual dividend.

2 Preferred dividends are increased each year.

3 Preferred shareholders have voting rights.

4 Preferred stock can always be converted to common stock.

5 None of the above

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