After several years of profitable operations, Javell, the sole shareholder of JBD Incorporated, a C corporation, sold 22 percent of her JBD stock to ZNO Incorporated, a C corporation in a similar industry. During the current year, JBD reports $2,900,000 of after-tax income. JBD distributes all of its after-tax earnings to its two shareholders in proportion to their shareholdings. How much tax will ZNO pay on the dividend it receives from JBD? What is ZNO's tax rate on the dividend income (after considering the DRD)? (Hint: See IRC 5243] (Round the "Tax rate on dividend income" to 2 decimal places.) ZNO's tax on dividend received ZNO's tax rate on dividend income