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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, Ilenley generates S1

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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, Ilenley generates S1 million of taxable income Required: 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 cash flow from the dividend receipt. C. Compute the combined corporate and individual tax burden on Henley's S1 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 Required B Required It Henley wants to pay all of its after-tax earrings to Leona as a dividend, calculate the amount of the dividend payment. Enter your answer in dollars and not in millions of dollars.) Amount of dividend payment Roja Required B > Complete this question by entering your answers in the tabs below. Required A Required Required Calculate Leona's tax due on the dividend computed In part a, and her after tax cash flow from the dividend receipt. (Enter your answers in dollars and not in millions of dollars.) Amount Tax die on dividend income After-tax cash low Complete this question by entering your answers in the tabs below. Required A Required B Required Recuiesc Compute the combined corporatel ....al tax burden on Henley's $1 million of current year Income, and the effective combined tax rate on this income. (Round your answer for the effective combined tax rate to one decimal place. Enter your answer in dollars and not in millions of dollars.) Totallax burden Effective combined tax rate

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