Which one of the following statements is correct? 0 1) Dividends are tax-free income for individual investors. U 2) All classes of stock must have equal voting rights per share. ( 3) Common shareholders elect the corporate directors while the preferred shareholders generally do not have voting rights. O4) Shareholders prefer noncumulative dividends over cumulative dividends. ( 5) From a legal perspective, preferred stock is a form of corporate debt. The term structure of interest rates is fixed over time. O True False