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20- Which of the following is/are true? I. Based on the homemade dividend argument, dividend policy is relevant II. Because of flotation costs, a low-dividend

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20- Which of the following is/are true? I. Based on the homemade dividend argument, dividend policy is relevant II. Because of flotation costs, a low-dividend policy is best. III. Because of the desire for current income, a high-dividend policy is best. A) I only B) III only C) I and III only D) II and III only E) I, II, and

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