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Which one of the following statements is correct? 1) All classes of stock must have equal voting rights per share. 2) Common shareholders elect the

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Which one of the following statements is correct? 1) All classes of stock must have equal voting rights per share. 2) Common shareholders elect the corporate directors while the preferred shareholders generally do not have voting rights. 3) From a legal perspective, preferred stock is a form of corporate debt. 0 4) Dividends are tax-free income for individual investors. 5) Shareholders prefer noncumulative dividends over cumulative dividends

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