Question 9 3 pts Which of the following shareholders tend to favor a low dividend policy? 1. shareholders desiring current income 1. terms contained in bond indenture agreements 11. effective tax rates on dividend income are higher than the tax rates on capital gains IV. flotation costs O II and III only Oland IV only II, III, and IV only O . 11, and III only 1. II, III, and IV 3 pts Question 10