Suppose you are a stock broker for WillyP Financial. Your client bought a share of stock of Intel at $60 and a share of stock Microsoft at $115. A year later, after your client received a $5 dividend from Intel and $3 from Microsoft, he sold the stock Intel at $55 per share and Microsoft $125. What are the expected after tax returns for your client if your client is (Keep your answer to only two decimals)

(a) a church investment fund (tax-exempt status) (example of answer format: xx.xx%, such as 12.34%)

(b) a corporation paying tax at 35% (remember that corporations may exclude 70% of dividends received from domestic corporations in the computation of their taxable income)

(c) an individual paying tax at 35% on dividend income and 15% on capital gains

(d) a security dealer paying tax at 35% on both investment income and capital gains