James, who is in the 35 percent marginal tax bracket with a 15 percent tax rate on dividends, owns 100 percent of the stock of JJ Inc. This year, JJ generates $523,000 taxable income and pays a $104,600 dividend to James. Compute his tax on the dividend under each of the following assumptions: Required: a. The special qualified dividend tax rate provided above applies to the dividend payment. Complete this question by entering your answers in the tabs below