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ABC Inc., an Australian firm paying a corporate tax rate of 28%, has announced a fully franked cash dividend of $4.32 per share with the
ABC Inc., an Australian firm paying a corporate tax rate of 28%, has announced a fully franked cash dividend of $4.32 per share with the ex-dividend date of 5th April 2022. Paul purchased 1500 shares in ABC on 1st January 2022 and is eligible to receive the dividends. If Pauls personal tax rate on dividend is 35%, which of the following is closest to the tax payment that Paul has to make on his dividend income?
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$1,814.4
$252.0
$630.0
$2,268.0
$907.2
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