Assume that the tax on dividends and the tax on capital gains is the same

Assume that the tax on dividends and the tax on capital gains is the same. All else equal, what would a prudent investor prefer?

a. The prudent investor would prefer capital gains—the capital gain tax liability can be

 deferred until gains are realized.

b. The prudent investor would be indifferent between receiving dividends or capital gains.

c. The prudent investor would prefer dividends—a dollar today is always worth more than

 a dollar to be received in the future.

d. More information is needed.