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Payout policy 7. If HDC adopts a 100% dividend payout policy, what is the after-tax dividend income shareholder whose personal tax rate is 36%, in

Payout policy 7. If HDC adopts a 100% dividend payout policy, what is the after-tax dividend income shareholder whose personal tax rate is 36%, in 1) a classic tax system; and 2) the imputati system? Which tax system would he/she favour? Why

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