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Suppose that there are three types of investors with the following tax rates: - Individuals m Individuals invest a total of $80 billion in stock and corporations invest $10 billion. The remaining stock is held by the institutions. All three groups simply seek to maximize their after-tax income. These investors can choose from three types of stock offering the following pre-tax payouts per share: _ Low Payout Medium Payout High Payout __ These payoffs are expected to persist in perpetuity. The low-payout stocks have a total market value of $100 billion, the medium-payout stocks have a value of $50 billion, and the high payout stocks have a value of $120 billion. Assume that the marginal investors that determine the stock prices are the institutional investors, and they require 12% after-tax returns. What g the dollar amounts of the three types of stock held by each investor group