25. The manager of a pension fund determines that during the past five years 85
percent of the stocks in the portfolio have paid a dividend and 40 percent of the
stocks have announced a stock split. If 95 percent of the stocks have paid a
dividend and/or announced a stock split, the joint probability of a stock paying a
dividend and announcing a stock split is closest to:
A. 30%.
B. 45%.
C. 55%.
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