20 of 52 Question 26 (4 points) If a firm adheres strictly to a residential distribution dividend policy (with all excess earnings distributed in the form of cash dividends), if the available positive investment opportunities exceed the year's net income after taxes what is the impact on dividends? en 6... The dividend payout ratio would be the same as the previous year. No dividends will be paid for the year. eni 6 egg Capital rationing will occur to fund the best investment opportunities only. resto Sen Both B and C will likely occur