13. Given the tax rates as shown, what is the average tax rate for a firm with taxable income of $126,500? Taxable Income Tax Rate $ 0 - 50,000 15% 50,001 - 75,000 25% 75,001 - 100,000 34% 100,001 - 335,000 39% 15. Cash flow to stockholders must be positive when: a. the dividends paid exceed the net new equity raised. b. the net sale of common stock exceeds the amount of dividends paid. c. no income is distributed but new shares of stock are sold. both the cash flow to assets and the cash flow to creditors are negative. e. both the cash flow to assets and the cash flow to creditors are positive