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Jay owns 1 0 0 % of Kaye Company. Jay ( an individual ) is in the 3 7 % tax bracket. Assume that Kaye

Jay owns

100 %

of Kaye Company. Jay

(

an individual

)

is in the

37 %

tax bracket. Assume that Kaye Company is a C

-

corporation and distributes $

50, 000

cash to Jay as a dividend.

How much tax must Jay pay on this $

50, 000

dividend? Assume that the net investment income tax does not apply here.

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