These payoffs are expected to persist in perpetuity. The low$-$payout stocks have a total market value of $$101\mathrm{.}2$ billion, the mediumpayout stocks have a value of $$51\mathrm{.}2$ billion, and the high$-$payout stocks have a value of $$121\mathrm{.}2$ billion.

a$.$ Who are the marginal investors that determine the prices of the stocks?

b$.$ Suppose that this marginal group of investors requires an after$-$tax return of $15\%.$ What are the prices of the low$-,$ medium$-,$ and highpayout stocks?

c$.$ Calculate the after$-$tax returns of the three types of stock for each investor group.

d$.$ What are the dollar amounts of the three types of stock held by each investor group?

Complete this question by entering your answers in the tabs below.

Required $A$

Required $B$

Required $C$

Required D

Suppose that this marginal group of investors requires an after$-$tax return of $15\%.$ What are the prices of the low$-,$ medium$-,$ and high$-$payout stocks? $($Do not round intermediate calculations. Round your answers to $2$ decimal places.$)$

$\backslash$table$[[$Price of low$-$payout stock,$],[$Price of medium$-$payout stock,$],[$Price of high$-$payout stock,$]]$Suppose that there are just three types of investors with the following tax rates:

$\backslash$table$[[,$Individuals,Corporations,Institutions$],[$Dividends$,45\%,5\%,0\%$