Which of the following factors contributes to the specific risk of an investment?

The specific risk of an investment, often referred to as unsystematic risk, is the risk that affects a particular company or industry. This risk can arise from various internal factors that are unique to the company itself, as opposed to broader market risks that affect all investments.

Fraud by senior management is a significant contributor to specific risk because it can lead to substantial financial losses, damage to the company's reputation, or even bankruptcy. When management engages in fraudulent activities, it can result in misstatements of financial health, leading investors to make uninformed decisions based on false information.

The financial leverage of the company also plays a crucial role in specific risk. A company that uses a high degree of leverage is more vulnerable to downturns in performance. If the company doesn't generate enough income to cover its debt obligations, it can lead to insolvency and a loss of investment for shareholders.

Furthermore, the rate of corporate taxes can affect a company's profitability and cash flow. Changes in tax regulations can lead to unexpected decreases in net income, impacting investor confidence and stock prices.

Considering that all these factors—fraud by management, financial leverage, and corporate tax rates—individually contribute to the specific risks associated with an investment, the appropriate conclusion is that all of