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D. Executive
Answer: C
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Reference:
http://adwords.google.com/support/aw/bin/answer.py?hl=en&answer=70619

NEW QUESTION: 3
Modigliani and Miller are the main proponents of the view that the dividend policy is irrelevant to the value of a company's shares.
They argue that a company that continually reinvests its entire earnings would generate the same shareholder wealth if it engaged in a policy of high dividends and financed its expansion with funds obtained from rights issues.
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C. There are no transaction costs involved in the issue of new shares (including rights issues).
D. There is a multiplicity of corporate and personal income tax rates.
E. Investors do not always have access to perfect information.
Answer: A,B,C
Explanation:
Explanation
Discursive_F0

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