A corporation had a net income of $80,000 before taxes for 2015. Assume that the after tax profit will be distributed equally among three shareholders, without deducting any retained profit. Determine the total tax liability, including the amount at the company level and at the individual level.

Bracket Corp Tax Rate 15% 25% 34% 39% 35% 34% 38% 35% 50,000 75,000 100,000 335,000 10,000,000 15,000,000 18,333,333 Corp Tax After Tax Profit Retained Profit Dividend Each Shareholder Receiv Personal Income Tax@ 15% flat rate Total Personal Income Tax Total Tax