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A C corp reported TI of $ 5 5 0 , 0 0 0 this year. At year end, it distributed all after tax earnings

A C corp reported TI of $

550, 000

this year. At year end, it distributed all after tax earnings to Jimmy, the company's sole shareholder. Jimmys marginal ordinary tax rate is

37 %

and his marginal tax rate on dividends is

23.8 %

after including NIIT. What is the overall tax rate on the corporation's pretax income?

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