Question: Consider the following equation: Pcum - Pex = (Div) [1 - ((Td - Tg)/(1 - Tg))] The term Tg is: the personal tax rate for

Consider the following equation: Pcum - Pex = (Div) [1 - ((Td - Tg)/(1 - Tg))] The term Tg is:

the personal tax rate for dividend.

the personal tax rate for capital gains.

the price per share before a dividend is paid.

the price per share after a dividend is paid.

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