ow would each of the following changes tend to affect aggregate (that is, the average for all corporations) payout ratios, other things held constant?…

1) How would each of the following changes tend to affect aggregate (that is, the average for all corporations) payout ratios, other things held constant? Explain your answers.a. An increase in the personal income taxb. A liberalization of depreciation for federal income tax purposes-that is, faster tax write offsc. A rise in interest ratesd. An increase in corporate profitse. A decline in investment opportunitiesf. Permission for corporations to deduct dividends for tax purposes as they now do interest chargesg. A change in the Tax Code so that both realized and unrealized capital gains in any year were taxed at the same rate as dividends