Which of the following statements is FALSE? a. Preferred stockholders have a residual claim on both assets and income of the firm preferred stockholders are "last in line." b. Common stockholders have limited liability - you can't lose more than you invested. c. A proxy allows you to give someone else the right to vote on important company decisions. Aspen Inc. is expected to pay a $3 dividend at the end of the year and it should continue to grow at a constant rate of 5% per year. If investor's required return is 15%, what is the expected stock price 7 years from today (calculate P7 )? a. $44.30 b. $31.50 c. $88.60 d. $42.20 e. $29.53