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5. The Rich Pharma Corporation just received a preferred stock dividend of $2.00 per share on 1,300 shares it owns in the R and R

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5. The Rich Pharma Corporation just received a preferred stock dividend of $2.00 per share on 1,300 shares it owns in the R and R Corporation. Calculate and explain the tax implications for the Rich Corporation if they have a 40% marginal tax rate and 80% of these dividends are excluded for tax purposes. As part of your answer, provide an effective tax rate on the dividend income

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