Preferred stock is called preferred because it usually has two preferences over common stock. These preferences relate to:

Preferred stock dividends are paid before common stock dividends. Cumulative preferred stock will receive dividends even if they are not distributed during a certain period since they will add up until the company is able to pay dividends again.

Another preference si that in case of dissolution, preferred stockholders are paid before common stockholders (in case there is money to distribute).

Explanation:

2,283,000

explanation:

i just had to add it

the investment was $14,174.196

explanation:

a lump sum means that the father of the example made one deposit and leave it be.

we need to know the value of a capital that generated at 4.05% per year during 28 years the sum of $48,613.24

now clearing the formula to solve for capital we got:

and we reach the answer investment = $14,174.20