NE Which of the following is correct? O a. If the required rate of return is higher than the dividend rate of a proferred share the par values less than the current market value of the preferred share. ob. Dividends are a tax-deductible expense for the issuer. c. Dividends are a legal obligation of the firm, ed A firm's residual earnings technically belong to the preferred shareholders The only cash flows that an investor will receive before he or she sells their shares will be the dividends. e