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Which of the following is not correct concerning preferred stock recapitalization. Select one: a. When the owner gifts non-voting common shares to his children, he

Which of the following is not correct concerning preferred stock recapitalization. Select one: a. When the owner gifts non-voting common shares to his children, he will make a taxable gift. b. Dividends may be noncumulative. c. The value of the voting preferred shares will be included in the owners estate. d. The owner will pay income tax on any dividends received.

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