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Myron Gordon and John Lintner believe that the required return on equity increases as the dividend payout ratio is decreased. Their argument is based on

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Myron Gordon and John Lintner believe that the required return on equity increases as the dividend payout ratio is decreased. Their argument is based on the assumption that O a investors view dividends as being less risky than potential future capital gains. O b.investors value a dollar of expelled capital gains more highly than a dollar of expected dividends because of the lower tax rate on capital gains. O c. investors are indifferent between dividends and capital gains. O d. capital gains are taxed at a higher rate than dividends. e, investors require that the dividend yield and capital gains yield equal a constant

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