3. If a firm has a lot of great ideas and projects to invest in, the firm would prefer which dividend policy below? a. Low dividend payout b. High dividend payout c. Either, since dividend policy has nothing to do with capital budgeting (projects the firm is investing in) 4. If an investor purchases a stock after the "ex-dividend" date, then a. the investor receives the currently declared dividend since the seller is "ex-dividend" (i.e. without dividend) the investor does not receive the currently declared dividend since the seller sold the stock "ex-dividend" (i.e. without dividend) the investor has to report the dividend as taxable income none of the above b. c. d