Which of the following statements is CORRECT about intrinsic value?

a. Corporate sales and cash flows are not important when estimating intrinsic value.

b. An investor's goal is to purchase stocks when the price is below its intrinsic value.

c. The intrinsic value of a stock is most important when valuing preferred stock.

d. Dividends must be discounted to reach intrinsic value.

e. Intrinsic value helps investors to find overvalued stocks to purchase.

Which of the following best describes classified stock?

a. Classified stock is a preferred stock that is only available to company employees.

b. Classified stock is common stock that has zero voting rights.

c. Classified stock is common stock which has been given a special designation to meet certain needs of a company.

d. Classified stock is preferred stock that allows multiple votes per share.

e. Classified stock is another name for founder's shares and only available to large shareholders.