A corporation with 250,000 shares outstanding earned $1,250,000 this year. You are a shareholder of the corporation and own 10 shares. After the corporation has paid taxes, it will distribute the rest to you as a dividend. The corporate income tax rate is 21% and your personal income tax rate on dividend income is 15%. What is your effective tax rate on the corporation's earnings?

Group of answer choices

15%

32.85%

36%

67.15%

None of the above