O $16,768.19 Question 21 9 pts Which of the following is a true statement regarding publicly-traded equity securities? A share of preferred stock represents a liability of a corporation. Future stock dividends are a legally-binding liability of the corporation O Cumulative voting encourages those with smaller amounts of stock to participate in corporate matters, like electing directors to the board. Common stock valuation is typically simpler than the valuation of preferred stock The market price of a stock is greater than the present value of all future dividends. Question 22 9 pt You win the lottery and are given the option of receiving $250,000 now or an annuity of $25,000 at the end of each year for 30 years. Which of the following is correct? (Ignore taxes.) You will always choose the lump sum ($250,000) regardless of interest rates. o Comparing the future value of the two alternatives will lead to a different decision than you will reach from a comparison of the present values. O You will choose the annuity payment if interest rates are 7% O You cannot choose between the two without first calculating future values. You will always choose the annuity. Question 23 9 p