Which one of the following would increase the desirability of a high-dividend payout, from the viewpoint of the shareholder?

		The imposition of a tax exemption on the first $100 of dividend income.
		The imposition of a reduced tax rate on capital gains income.
		The imposition of a tax exemption on the first $100 of capital gains income.
		A reduction in brokerage commissions on purchases and sales of shares.
		An increase in the number of positive net present value projects available to the firm.