A C corporation earns $ 8.40 per share before taxes and the company pays a dividend $5.00 per share. The corporate tax rate is 39%, the personal tax rate on dividends is 15%, and the personal tax rate on non-dividend income is 36%. What is the after-tax amount an individual would receive from the dividend?

A.

$ 4.25

B.

$ 5.10

C.

$ 5.95

D.

$ 3.40

I am getting 4.03 which is not an option. What am I doing wrong?