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Cheryl operates the business as a C corporation receiving a salary from the corporation of $66,000. The corporation distributes its after tax income to her

Cheryl operates the business as a C corporation receiving a salary from the corporation of $66,000. The corporation distributes its after tax income to her as a dividend. Begin by calculating taxable income for Cheryl under this scenario. Now enter the income tax that would be paid by Cheryl and the corporation under this scenario.

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