The purpose of nonvoting common stock is to

limit the voting power of the management

allow the minority interest to elect one director

raise capital without giving up any voting rights

give preference on distribution of earnings to those shareholders who own the stock

Adam borrows $4,500 at 12 percent annually compounded interest to be repaid in four equal annual installments. The actual end-of-year payment is

$ 942

$1,125

$1,482

$2,641

The Modified Accelerated Cost Recovery System (MACRS) is a depreciation method used for ________ purposes.

tax

financial reporting

managerial

cost accounting