Which of the following statement is correct? A callable bond is callable, at the option of the bondholder, into usually a certain number of shares of preferred stock. If an Italian company issues a bond denominated in euros, it would be called a Yankee bond. All the answers are incorrect. An investor in a first-mortgage bond has the last claim on the proceeds from the sale of the pledged assets if there is a default. If a debenture were to go into default, the bondholders would be unsecured creditors