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3. Your corporation has a marginal tax rate of 30% and has purchased preferred stock in another company. The before-tax dividend income on the preferred

3. Your corporation has a marginal tax rate of 30% and has purchased preferred stock in another company. The before-tax dividend income on the preferred stock is $4,200. What is the company's after-tax dividend income on the preferred, assuming a 70% dividend exclusion?

a. $2,058

b. $882

c. $3,822

d. $1,260

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