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Leona, whose marginal tax rate on ordinary income is 37 percent, owns 100 percent of the stock of Henley Corporation. This year, Henley generates $1

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Leona, whose marginal tax rate on ordinary income is 37 percent, owns 100 percent of the stock of Henley Corporation. This year, Henley generates $1 million of taxable income. Use Appendix C a. If Henley wants to pay all of its after-tax earnings to Leona as a dividend, calculate the amount of the dividend payment. b. Calculate Leona's tax due on the dividend computed in part a, and her after-tax cashflow from the dividend receipt. .Compute the combined corporate and individual tax burden on Henley's $1 million of current year income, and the effective combined tax rate on this income Complete this question by entering your answers in the tabs below. Required A Reired B Required C If Henley wants to pay all of its after-tax earnings to Leona as a dividend, calculate the amount of the dividend payment. (Enter your answers in dollars and not in millions of dollars.) Amount of dividend payment Required A Required B

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