Using the table for each of the following years, state whether dividends were tax disadvantaged or not for individual investors with a one-year investment horizon: a. 1985 b. 1989 c. 1995 i Data Table d. 1999 e. 2005 f. 2018 a. 1985 (Select from the drop-down menu.) 1985 b. 1989 (Select from the drop-down menu.) 1989: c. 1995 (Select from the drop-down menu.) 1995 d. 1999 (Select from the drop-down menu.) 1999: e. 2005 (Select from the drop-down menu.) TABLE 17.2 Long-Term Capital Gains Versus Dividend Tax Rates in the United States, 1971-2018 Year Capital Gains Dividends 1971-1978 35% 70% 1979-1981 28% 70% 19821986 20% 50% 1987 28% 39% 1988-1990 28% 28% 1991-1992 28% 31% 19931996 28% 40% 1997-2000 20% 40% 2001-2002 20% 39% 2003-2012 15% 15% 2013*- 20% 20% * Rates shown correspond to the highest statutory federal tax rates for assets held for more than one year. Some investors may also be subject to an additional net investment income tax of 3.8%. For assets held one year or less, capital gains are taxed at the ordinary income tax rate (currently 37% for the highest bracket); the same is true for dividends if the assets are held for less than 61 days. Because the capital gains tax is not paid until the asset is sold, for assets held for longer than one year the effective capital gains tax rate is equal to the present value of the rate shown, when discounted by the after-tax risk-free interest rate for the additional number of years the asset is held. 2005: f. 2018 (Select from the drop-down menu.) 2018: Click to select your answer(s)