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You own 10 000 BAT shares. BAT announces a dividend re-investment plan giving shareholders the choice of electing cash income at a rate of

You own 10 000 BAT shares. BAT announces a dividend re-investment plan giving shareholders the choice of electing

• cash income at a rate of 50.75p per share, or

• securities at a re-investment price of £28.329107 per share.

The position holder's domestic income tax rate, net of foreign withholding tax, is?

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