8. If dividends are taxed more heavily than capital gains, investors: a) Should pay more for stocks with low dividend yields b) Should pay more for stocks with high dividend yields c) Should pay the same for stocks regardless of the dividend yields d) Cannot be predicted as stock prices fluctuate randomly 9. Firm Alpha has a value of 300 million and Firm Beta has a value of 200 million. Merging the two companies would allow cost savings with a present value of 50 million. If Firm Alpha purchases Firm Beta for 220 million, how much do the shareholders of firm Alpha gain from this merger: a) 20 million b) 30 million c) 40 million d) 50 million