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Arthur earned $14,000 in dividends from a taxable, Canadian public corporation. He has a federal marginal tax rate of 29% and a provincial marginal tax
Arthur earned $14,000 in dividends from a taxable, Canadian public corporation. He has a federal marginal tax rate of 29% and a provincial marginal tax rate of 19.7%. The federal dividend tax credit is 15.02% and he lives in a province where the provincial dividend tax credit is 6.60%. How much of the dividends received by Arthur will he retain after-tax? a) $5,232 b) $8,768 c) $11,299 d) $2,287
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