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Business, 19.02.2021 16:20 mjwickman8751

Marathon Inc. (a C corporation) reported $2,050,000 of taxable income in the current year. During the year, it distributed $205,000 as dividends to its shareholders as follows: $10,250 to Guy, a 5 percent individual shareholder.
$30,750 to Little Rock Corp., a 15 percent shareholder (C corporation).
$164,000 to other shareholders.

a. How much of the dividend payment did Marathon deduct In determining Its taxable Income?
b. Assuming Guy's marginal ordinary tax rate is 37 percent how much tax WII he pay on the $10,250 dividend he received from Marathon Inc.?
c. What amount of tax little Rock Corp. pay on the $30.750 dividend It received from Marathon Inc?

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Marathon Inc. (a C corporation) reported $2,050,000 of taxable income in the current year. During th...
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