Suppose you are a stock broker for Willyp Financial. Your client bought a share of stock of Nitel at $50 and a share of stock MBI at $120. A year later, your client received a $5 dividend from Nitel and $6 from MBI, he sold the Nitel stock at $55 per share and MBI at $126. What are the expected after-tax returns for your client if your client is

(a) a church investment fund (tax-exempt status)

(b) a corporation paying tax at 35% (remember that for 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 investment income and 25% on capital gains;

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