Jamie Lee's father suggested that they purchase stock in a company that he has held shares in for decades. They want to take advantage of the stock tip, but Jamie Lee and Ross are trying to decide between purchasing the company's common stock and preferred stock. How would you describe the differences between common and preferred?
a) Common stockholders have higher priority in receiving dividends than preferred stockholders.
b) Preferred stockholders have voting rights, while common stockholders do not.
c) Common stockholders have ownership in the company and voting rights, while preferred stockholders have priority in receiving dividends.
d) Preferred stockholders have ownership in the company and voting rights, while common stockholders have priority in receiving dividends