(Answered) Questionwhat is callable preferred stock why do

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What is callable preferred stock? Why do corporations issue such stock? Given the different features that are associated with stock (callable, cumulative, preferred, etc.), what type of stock would you want to buy personally and why?

REFERENCE:

Principles of accounting: Volume II. (2012). San Diego, CA: Bridgepoint Education. CH 2 and CH 3

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