8.Which of the following are arguments for a high dividend payout?

I. A current dividend is worth more than a future dividend.

II. Some clientele groups prefer current income.

III. Flotation costs exist in the real world.

IV. Firm's dividend payout is restricted by a bond indenture.

A.I and II only

B.II and IV only

C.I, II, and III only

D.I, II, and IV only

E.I, II, III, and IV