Why is preferred stock often referred to as a "hybrid" security? Question $1$ Answera.They have fixed payments like fixed$-$income assets but are not a debt obligation.b$.$They are equity assets but have liquidation payout priority the equivalent of fixed income assetsc.They payout dividends like equity assets but have convertibility features like fixed income assetsd.The dividends paid out are like equity assets but the dividends are taxed like fixed income assetse.They have voting rights like equity assets but payout coupons like fixed income assets