Which of the following statements is correct? O a Preferred shareholders are the real owner" of the firm. O b. Preferred shares have more voting rights than common shares. oc. In case of bankruptcy and liquidation of assets, common shares have priorities over preferred shares to claim their dividend. O d. Preferred shares typically have a fixed dividend, where as the dividend for common shares is determined by a firm's board of directors every year. Oe. A firm's residual earnings technically belong to the preferred shareholders. Project ABC and Project XYZ are dependent (contingent) projects. The projects have the following characteristics: ABC requires an initial investment of $105,000 and generates free cash flows of $35,000 each year for the coming 3 years; XYZ requires an initial investment of $20,000 and generates $6,000 free cash flows each year for the coming 6 years. The discount rate for both projects is 14%. Which of the following statement is true? O a. Only accept Project ABC because the investment of Project XYZ is too long. O b. Accept both projects because they are contingent projects and the total NPV is positive. OC Cannot be determined because the two projects have different investment life. Od. Reject both projects because they are contingent projects and the total NPV is negative. Oe. Only accept Project XYZ because only XYZ has a positive NPV