Which of the following statements is incorrect? Select one: a. A perpetual bond is similar to a preferred stock because both have indefinite lives. b. A perpetual bond is similar to a no-growth common stock because both have indefinite lives. c. A preferred stock is similar to a bond because it has a par value and a fixed dividend payment that must be paid after dividends are paid on the common stock. d. The preemptive right is less important to the stockholders of publicly owned company than to those of closely held firms. e. Investor A has a 2-year investment horizon while investor B usually holds stock for 10 years. If these two investors expect the same future dividend stream and they agree on the stocks riskiness, then investor A and B will be willing to pay the same price for the same company stock