Marathon Inc. (a C corporation) reported $1,000,000 of taxable income in the current year. During the year, it distributed $100,000 as dividends to its shareholders as follows: (New Corporate income tax rate has been mentioned as "21% on all taxable income" as per the recent change. Leave no answer blank. Enter zero if applicable.)

• $5,000 to Guy, a 5 percent individual shareholder.
• $15,000 to Little Rock Corp., a 15 percent shareholder (C corporation).
• $80,000 to other shareholders.

1. How much of the dividend payment did Marathon deduct in determining its taxable income?
2. Assuming Guys marginal ordinary tax rate is 37 percent, how much tax will he pay on the $5,000 dividend he received from Marathon Inc. (including the net investment income tax)?
3. What amount of tax will Little Rock Corp. pay on the $15,000 dividend it received from Marathon Inc. (50 percent dividends received deduction)?

4. On what line of Little Rock Corp.s Form 1120 page 1 is the dividend from Marathon Inc. reported?

5. On what line of Little Rock Corp.s Form 1120 page 1 is its dividends received deduction reported?

   (Assume 2019 form is same structure as 2018 form.)