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Ms. Xie, who is in the 37 percent tax bracket, is the sole shareholder and president of Xenon. The corporation's financial records show the

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Ms. Xie, who is in the 37 percent tax bracket, is the sole shareholder and president of Xenon. The corporation's financial records show the following: Gross income from sales of goods Operating expenses Salary paid to Ms. Xie $ 1,590,000 (930,000) (300,000) (200,000) Dividend distributions Required: a. Compute the combined tax cost for Xenon and Ms. Xie. (Ignore payroll tax.) b. How would your computation change if Ms. Xie's salary was $500,000 and Xenon paid no dividends? Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Compute the combined tax cost for Xenon and Ms. Xie. (Ignore payroll tax.) Amount Xenon's tax $ 122,400 Ms. Xie's tax on salary Ms. Xie's tax on dividend Total income tax cost $ 122,400 Reg Required >

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