a. Luke purchased common stock of the West Yellowstone Corporation (a publicly traded, US-based company traded on the New York Stock Exchange) on March 1. West Yellowstone declared a dividend on March 30. The ex-dividend date was April 15, and the dividend was paid to shareholders on May 15. However, Luke sold the stock on April 20. What impact will this have on Luke's taxes? No impact to Luke, since he sold it before the dividend was paid. b. Dividend was not taxable, because it was a qualified dividend. Dividend will be taxed at ordinary tax rates (tables), since it was not a qualified dividend. d. Dividend will be taxed at preferred rates (0/15/20), since it was a qualified dividend. C. 1 A- U HI Tii E TII