Olympia, Inc. pays out $40\%$ of its earltings after taxes in dividends to shareholders.

Olympia's earnings are taxed at a rate of $24\%,$ and its shareholders are taxed at $28\%.$

What is the effective tax on each dollar of Olympia's income, considering both corporate

and individual taxes?

$24\mathrm{.}00\%$

$52\mathrm{.}00\%$

$32\mathrm{.}51\%$