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Basic Question 0 of 10

German shareholders in low tax brackets would prefer a ______ dividend payout.

A. higher
B. lower
C. they don't care as their effective tax rate would be the same as those in higher tax brackets.
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User Contributed Comments 1

User Comment
assistent it used to be like this, but has changed! tax is 25% + 5,5% = 26,38%
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I am happy to say that I passed! Your study notes certainly helped prepare me for what was the most difficult exam I had ever taken.
Andrea Schildbach

Andrea Schildbach

Learning Outcome Statements

explain traditional theories of the term structure of interest rates and describe the implications of each theory for forward rates and the shape of the yield curve;

CFA® 2025 Level II Curriculum, Volume 4, Module 26.