Adjustable Rate Preferred Stock (ARPS) Offer Competitive Rates of Return

Adjustable rate preferred stock (ARPS) offer competitive rates of return with traditional money-market instruments but:

A) are not rated by Moody's or Standard & Poor's.
B) still provide the corporate investor with the tax exclusion on dividend income.
C) have a fixed rate of dividend income.
D) offers a highly competitive trading market.
E) None of these.