A university endowment fund is tax-exempt, whereas many, if not most, of the contributors to...
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A university endowment fund is tax-exempt, whereas many, if not most, of the contributors to that endowment fund face very high marginal tax rates. Who is more likely to prefer stocks with a low or zero dividend payout ratio (as opposed to a high dividend payout ratio), based only on the difference in personal taxes? O A. The university endowment fund. O B. O C. The contributors to the fund O D. Both are equally likely, given the current tax structure in the U.Ss
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