What was the effective dividend tax rate for a U.S. investor in the highest tax bracket who planned to hold a stock for one year in 1978 (according to the table shown here, BELOW)? How did the effective dividend tax rate change in 1982 when the Reagan tax cuts took effect? (Ignore state taxes.) The effective dividend tax rate for a U.S. investor in the highest tax bracket who planned to hold a stock for one year in 1978 was [ ] %. (Round to two decimal places.) In 1982 when the Reagan tax cuts took effect, the effective dividend rate was [ ] %. (Round to two decimal places.)

Top Federal Tax Rates in the United States Year 1971-1978 1979-1981 1982-1986 1987 1988-1990 1991-1992 1993-1996 1997-2000 2001-2002 2003-2012 2013- Capital Gains Dividends 35% 28% 20% 28% 28% 28% 28% 20% 20% 15% 20% 70% 70% 50% 255% 28% 31% 40% 40% 255% 15% 20%