Briefly describe each of the following, and note how each differs from a conventional preferred stock.

a. Convertible preferreds

b. Floating-rate preferreds

c. Prior preferred stocks

d. Trust preferreds As an investor, why would you choose a convertible preferred share over a straight preferred share? Why would you choose a floating-rate preferred over a (fixed-rate) preferred? Finally, instead of investing in a conventional preferred, why not just invest in a common stock?