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Question 6 (of 6) 10.00 points National Business Machine Co (NBM) has $6 million of extra cash after taxes have been paid NBM has choices to make use of this cash. One alternative is to invest the cash in financial assets. The resulting vestment income will be paid out as a special dividend at the end of three years. In this case, the firm can in either Treasury bills yielding 3 percent or a 5 percent preferred stock. IRS regulations allow the company to exclude from taxable income 70 percent of the dividends received from investing in another stock. Another alternative is to pay out the cash now as dividends. This would allow the to invest on their own in Treasury bills with the same yield, or in preferred stock. The corporate tax rate is 35 percent. Assume the investor has a 30 percent personal income tax rate, which is applied to interest income and preferred stock dividends. The personal dividend tax rate is 10 percent on invest company's common stock dividends Suppose the company reinvests the 56 million and pays a dividend in three years. What is the total aftertax cash flow to shareholders if the company invests in T-bills? (Enter your answer in dollars, not millions of dollars, e.g. 1,234,567. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) in three years What is the total aftertax cash flow to shareholders if thec answer in dollars, not millions of dollars, e.g. 1,234,567. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) company invests in preferred stock? (Enter your n three years Suppose instead that the company pays a $6 million dividend now and the shareholder reinvests the dividend for three years What is the total aftertax cash flow to shareholders if the shareholder invests in T-bills? (Enter your answer in dollars, not millions of dollars, e.g. 1,234,567. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Value in three years What is the total aftertax cash flow to shareholders if the shareholder invests in preferred stock? your answer in dollars, not millions of dollars, e.g. 1,234,567. D and round your answer to 2 decimal places, e.g., 32.16.) (Enter o not round intermediate calculations Value in three years References eBook & Resources Worksheet Difficulty 3 Challenge Section 19 05 Perso T Service Center 5-9088