Interest versus dividend income Lastyear, Shering Corporation had pretax earnings from operations of $ 497 comma 000

$497,000. Inaddition, it received $ 25 comma 000

$25,000 in income from interest on bonds it held in Zig Manufacturing and received $ 25 comma 000

$25,000 in income from dividends on its 5 %

5% common stock holding in TankIndustries, Inc. Shering is in the 21 %

21% tax bracket and is eligible for a 50 %

50% dividend exclusion on its Tank Industries stock.

c. Complete the table below to compute the tax and theafter-tax amount attributable to the dividendincome:Dividend Income

Before-tax amount

$

25000

Less: Applicable exclusion

Taxable amount

$

Tax (21%)

After-tax amount