What is callable preferred stock?

1.      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?

Guided Response :

Review your peers’ posts. Respond to at least two of your classmates, letting them know if you agree with their type of desired stock and whether your answer would change (and why) based on:

a.  Different economic conditions
b.  State of the company (if the company is in a growth phase versus a mature state).