What would your answer be if GM executives anticipated that there was a possibility of a government bailout should the firm be forced to declare$$ bankruptcy? $($Select from the$$ drop$-$down menu.$)$

By paying a$$ dividend, executives

$$

$$

decreased

increased

the probability of bankruptcy and therefore

$$

$$

increased

decreased

the probability of receiving government funds. Since these government funds are funds that investors would not otherwise be entitled$$ to$,$ the payment of a dividend could actually

$$

$$

have no effect on

lower

raise

firm value.