If investors pay a lower marginal rate of income tax, then:

	A.	According to Modigliani and Miller Proposition (MM) dividend policy is irrelevant
	B.	Investors do not prefer high dividend payment
	C.	Investors would prefer lower dividends
	D.	Investors do prefer high dividend payment
	E.	They are indifferent because of the Modigliani Miller irrelevance therot