Question 1: Outline the differences between common stock and preferred stock?

Question 1: Outline the differences between common stock and preferred stock?  

Question 2: What are the differences between capital projects that are independent, mutually exclusive, and contingent?                                        

Question 3: Cortez Art Gallery is adding to its existing buildings at a cost of $2 million. The gallery expects to bring in additional cash flows of $520,000, $700,000, and $1,000,000 over the next three years. Given a required rate of return of 10 percent, what is the NPV of this project?