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Which of the following is not characteristic of REITs? They are structured as corporation with fully transferable shares They must have a minimum of 100

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Which of the following is not characteristic of REITs? They are structured as corporation with fully transferable shares They must have a minimum of 100 shareholders They must pay dividends of at least 90% of REIT's taxable income Their shares must be held by five or fewer individuals At least 75% of their total investment assets must be in real estate

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