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4. The following are characteristics of preferred stock except it 1.1) pays fixed dividends; 2. II) can demand payments of cumulative dividends; 3. III) has

4. The following are characteristics of preferred stock except it 1.1) pays fixed dividends; 2. II) can demand payments of cumulative dividends; 3. III) has voting rights I only I and II only Ill only Il only

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