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The company's shares are trading at $ 6 5 . before the payment of dividends. The price after the payment of dividends in the amount

The company's shares are trading at $65. before the payment of dividends. The price after the payment of dividends in the amount of 10 dollars drops to $57. Determine the marginal tax rate on the dividend income of the company's shareholders. Assume that the capital gains tax is 40% of the tax rate on dividend income.

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