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24 Claudette owns 100 percent of Magnolia Corp.'s stock. She's also an employee of the company. Magnolia is a C corporation that expects to earn
24 Claudette owns 100 percent of Magnolia Corp.'s stock. She's also an employee of the company. Magnolia is a C corporation that expects to earn $500,000 before deducting any sa paid to Claudette. She is considering a few different options to have Magnolia pay her $300.00 this year (in pre-tax dollars). If Magnolia pays Claudette a $300,000 salary, what is the total (combined) corporate and individual tax liability? Assume Claudette's marginal tax rate on salary income is 32 percent. (Magnolia's tax rate is 21 percent.) $96,000 None of these are correct 1.8 pts O $201,000 O $138,000
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