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Glaxo had an operating income (EBIT) of $5,400,000 in its last fiscal year. Glaxo also received $190,000 in interest from holding Treasury bonds and $570,000
Glaxo had an operating income (EBIT) of $5,400,000 in its last fiscal year. Glaxo also received $190,000 in interest from holding Treasury bonds and $570,000 in dividends from a small equity investment in one of its suppliers. Glaxo has no debt. Glaxo has an average tax rate of 34% and qualifies for the 70% dividend exclusion on its stake in the supplier. Attempt 1/10 for 10pts. How much does Glaxo have to pay in taxes on its operating income only? Attempt 1/10 for 10pts. How much does Glaxo have to pay in taxes on its interest income? Part 3 Attempt 1/10 for 10 pts. How much does Glaxo have to pay in taxes on its dividend income? Part 4 Attempt 1/10 for 10pts. What is Glaxo's total tax bill
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