When do firms get the right to redeem a preferred stock?

Name: When do firms get the right to redeem a preferred stock?
Brand: Quizplus
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Firms have the right to redeem preferred stock by incorporating a call provision. This provision allows the issuer to repurchase the stock at a predetermined price and time, specified in the call provision. The call price is typically higher than the stock's par value, and call provisions are included in the stock's prospectus.

When Do Firms Get the Right to Redeem a Preferred