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Which one of the following is an argument in favor of a low dividend policy? Multiple Choice Only the gain on a sale of stock

Which one of the following is an argument in favor of a low dividend policy?

Multiple Choice

Only the gain on a sale of stock is taxed.

Agency costs

Investor desire for current income

Few, if any, positive net present value projects are available to the firm.

Lack of investor self

-

control

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