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Over the recent past, LOW has distributed a relatively greater fraction of cash to shareholders in the form of repurchases than HD. Which of the

image text in transcribed Over the recent past, LOW has distributed a relatively greater fraction of cash to shareholders in the form of repurchases than HD. Which of the following could explain this? LOW shareholders have lower tax rates than HD shareholders. LOW's management believes that LOW is overvalued relative to its fundamental/intrinsic value. LOW shareholders have higher tax rates than HD shareholders. LOW's management believes that LOW is overvalued relative to HD

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