Scott currently owns 700 shares of twelve colonies inc. Twelve colonies has a high dividend payout policy, and this year will pay a $2.70 cash dividend on its shares, which are selling currently at $25.00. Assume scott pays 15% tax on dividend distribution and 15% on capital gains. also assume scott originally paid $25.00 for these shares. if scott wants to receive only $150 after tax, is his wealth affected by changing this dividend policy from a high dividend payout policy to a low dividend payout policy? what is scotts wealth is paper and cash under the high dividend payout policy?