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4. Jay owns 100% of Kaye Company. Jay (an individual) is in the 39.6% tax bracket. Assume that Kaye Company is a sole proprietorship and

4. Jay owns 100% of Kaye Company. Jay (an individual) is in the 39.6% tax bracket. Assume that Kaye Company is a sole proprietorship and distributes $50,000 of cash to Jay. How much tax must Jay pay on this $50,000 distribution?

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