Which One of the Following Statements Regarding Preferred Stock Is

Which one of the following statements regarding preferred stock is true?

A) Preferred stock pays tax-free income.
B) Preferred stock generally provides voting rights to its holders.
C) Preferred stock generally pays a lower rate to investors than do corporate bonds.
D) Preferred stock provides totally tax-free income to corporate shareholders.
E) Preferred stock can frequently be converted into bonds.