Question 19 [CLO-2] Which of the following are characteristics of preferred stock? 1. Dit pays its holder a fixed amount of income each year at the discretion of its managers. 2. 1) it gives its holder voting power in the firm. 3. Ili) Its dividends are usually cumulative. 4. IV) Failure to pay dividends may result in bankruptcy proceedings. O I, III, and IV I and III OLI, III, and IV O I, II and IV O III and