Question 5 (1 point) Listen If preferred shares are callable: The shareholder will get preferential treatment over all other classes of equity and debt holders. The callable shares are also called retractable shares, because the terms callable and retractable mean the same thing and are used interchangeably. The corporation may, at its option, purchase the preferred shares for a specified cash price. The preferred shareholder may, at its option, force the company to repurchase the shares from them at a specified cash price. The shareholders can exchange the preferred shares owned for common shares, at their option. Question 6 (1 point) > Listen Giraffe Inc. issued 1,000 common shares and 3,000 preferred shares for a lump sum of $35,000. The fair market value of each share on the date of issue was $6 per common share and $8 per preferred share. How much of the proceeds received should be allocated to the preferred shares on the date of issue? Do not input commas, dollar signs or decimals. Round to the nearest whole dollar. Your Answer: Answer Question 7 (1 point) Listen Giraffe Inc. issued 1,000 common shares and 3,000 preferred shares for a lump sum of $25,000. The fair market value of each share on the date of issue was $6 per common share and $8 per preferred share. How much of the proceeds received should be allocated to the preferred shares on the date of issue? $20,000 $5,000 $6,250 $19,750