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need help with e and f ! Required information [The following information applies to the questions displayed below) Riverbend Incorporated received a $200,000 dividend from
need help with e and f
! Required information [The following information applies to the questions displayed below) Riverbend Incorporated received a $200,000 dividend from stock it held in Hobble Corporation. Riverbend's taxable income is $2,100,000 before deducting the dividends-received deduction (DRD), a $40,000 NOL carryover, and a $100,000 charitable contribution Use Exhibit 16-6 (Round your tax rates to 1 decimal place. Leave no answer blank. Enter zero if applicable.) a. What is Riverbend's deductible DRD assuming it owns 10 percent of Hobble Corporation? Answer is complete and correct. DRD 100,000 Required information [The following information applies to the questions displayed below.) Riverbend Incorporated received a $200,000 dividend from stock it held in Hobble Corporation Riverbend's taxable income is $2,100,000 before deducting the dividends-received deduction (DRD), a $40,000 NOL carryover, and a $100,000 charitable contribution. Use Exhibit 16-6. (Round your tax rates to 1 decimal place. Leave no answer blank. Enter zero if applicable.) b. Assuming the facts in part (a). what is Riverbend's marginal tax rate on the dividend? Answer is complete and correct. Marginal tax rate 10.5 % Required information [The following Information applies to the questions displayed below.) Riverbend Incorporated received a $200,000 dividend from stock it held in Hobble Corporation Riverbend's taxable Income is $2,100,000 before deducting the dividends-received deduction (DRD), a $40,000 NOL carryover, and a $100,000 charitable contribution Use Exhibit 16-6 (Round your tax rates to 1 decimal place. Leave no answer blank. Enter zero if applicable.) c. What is Riverbend's DRD assuming it owns 60 percent of Hobble Corporation? Answer is complete and correct. $ 130,000 DRD Required information [The following information applies to the questions displayed below) Riverbend Incorporated received a $200,000 dividend from stock it held in Hobble Corporation Riverbend's taxable Income is $2,100,000 before deducting the dividends-received deduction (DRD), a $40,000 NOL carryover, and a $100,000 charitable contribution. Use Exhibit 16-6 (Round your tax rates to 1 decimal place. Leave no answer blank. Enter zero if applicable.) d. Assuming the facts in part (c), what is Riverbend's marginal tax rate on the dividend? Answer is complete and correct. Marginal tax rato 74% Required information [The following information applies to the questions displayed below) Riverbend Incorporated received a $200,000 dividend from stock it held in Hobble Corporation. Riverbend's taxable Income is $2,100,000 before deducting the dividends-received deduction (DRD), a $40,000 NOL carryover, and a $100,000 charitable contribution Use Exhibit 16-6. (Round your tax rates to 1 decimal place. Leave no answer blank. Enter zero if applicable.) e. What is Riverbend's DRD assuming it owns 85 percent of Hobble Corporation (and is part of the same aliiated group)? Answer is complete but not entirely correct. DRO 160.000 Required information [The following information applies to the questions displayed below) Riverbend Incorporated received a $200,000 dividend from stock it held in Hobble Corporation Riverbend's taxable income is $2,100,000 before deducting the dividends-received deduction (DRD), a $40,000 NOL carryover, and a $100,000 charitable contribution. Use Exhibit 16-6. (Round your tax rates to 1 decimal place. Leave no answer blank. Enter zero if applicable.) f. Assuming the facts in part (e), what is Riverbend's marginal tax rate on the dividend? Marginal tax rato % Step by Step Solution
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