Consider a C corporation. The corporation earns$1.5 per share before taxes. After the corporation has paid its corresponding taxes, it will distribute40% ofits earnings to its shareholders as a dividend. Thecorporate tax rate is 35%, thetax rate on dividend income is 20%, and thepersonal income tax rate is set at 28%. What are the shareholder's earnings from the corporation after all corresponding taxes are paid?How much is the total effective tax rate on the corporation earnings?