The expected pretax return on three stocks is divided between dividends and capital gains in the following way spected Expected Dividend Capital 50 510 5 0 Stock 5 10 Required: a. If each stock is priced at $170, what are the expected net percentage returns on each stock to (1) a pension fund that does not pay taxes. (W) a corporation paying tax at 21% (the effective tax rate on dividends received by corporations is 6,3%), and (i) an individual with an effective tax rate of 15% on dividends and 10% on capital gains? b. Suppose that investors pay 50% tax on dividends and 20% tax on capital gains. If stocks are priced to yield an after-tax return of 8%, what would A, B, and C each sell for? Assume the expected dividend is a level perpetuity