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Jim owns 10% of a company. The company earned 100,000 pretax. Corporate tax rate is 45%, and the personal tax rate for dividends is 15%.

Jim owns 10% of a company. The company earned 100,000 pretax. Corporate tax rate is 45%, and the personal tax rate for dividends is 15%. 65% of the earnings were distributed as dividends. How much does jim pay on personal tax for his dividends? please show work

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