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2 2.5 points Skipped Ms. Xie, who is in the 37 percent tax bracket, is the sole shareholder and president of Xenon. The corporation's
2 2.5 points Skipped Ms. Xie, who is in the 37 percent tax bracket, is the sole shareholder and president of Xenon. The corporation's financial records show the following: Gross income from sales of goods Operating expenses Salary paid to Ms. Xie Dividend distributions Required: $ 1,641,000 (947,000) (317,000) (217,000) a. Compute the combined tax cost for Xenon and Ms. Xie. (Ignore payroll tax.) b. How would your computation change if Ms. Xie's salary was $534,000 and Xenon paid no dividends? eBook Complete this question by entering your answers in the tabs below. Print References Required A Required B Compute the combined tax cost for Xenon and Ms. Xie. (Ignore payroll tax.) Xenon's tax Ms. Xie's tax on salary Ms. Xie's tax on dividend Total income tax cost $ Amount 0 < Required A Required B >
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