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a. Assume that the corporate tax rate is 27% and the individual (personal) tax rate is 13%. You are a member of a limited liability

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a. Assume that the corporate tax rate is 27% and the individual (personal) tax rate is 13%. You are a member of a limited liability company. Your share of the LLC's pre-tax income is S52,000. i. Calculate your total taxes. ii. Calculate your after-tax personal income. b. Assume instead you are a shareholder of a corporation. Your share of the corporation's pre- tax income is $52,000. The corporation distributes all after-tax corporate income as dividends. i. Calculate your total taxes (your share of the corporate tax and your personal income tax). ii. Calculate your after-tax personal income. iii. Calculate your average tax rate

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