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Last year, Martyn Company had $340,000 in taxable income from its operations, $50,000 in interest income, and $100,000 in dividend income. Its corporate tax rate
Last year, Martyn Company had $340,000 in taxable income from its operations, $50,000 in interest income, and $100,000 in dividend income. Its corporate tax rate is 25%. What was the company's tax liability for the year? Assume a 50% dividend exclusion for tax on dividends. a. $162.792 b. $128.520 O c. $110,000 d. $ 108,528 e. $151,368
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