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Please solve the following: The following information concerns questions 38-43. Suppose in 2014 an individual lived in Nova Scotia and received $1,500 in interest income

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The following information concerns questions 38-43. Suppose in 2014 an individual lived in Nova Scotia and received $1,500 in interest income and $3,000 in eligible dividends, and realized a $2,000 capital gain. Assume his marginal foderal tax rate was 26 percent and his marginal provincial tax rate 16.67 percent, the dividend gross-up factor was 1.38. 38. Given the above information and the federal dividend tax credit rates in Table 3.8, what is the net federal tax paid on dividend income? A. 8159.444. B. 6231.822. C. $454.572. D. $490,586. E. None of the above. 39. Given the above information and the provincial dividend tax credit rates in Table 3.8, what is the net provincial tax on dividend income? A. 5323.748. B. 8467.101. C. $354.483. D. $257.176. E. None of the above. 40. Given the above information, what is the total tax (federal plus provin- cial) paid on dividend income? A. 8659.90. B. 9778.32. C. $634.79. D. $490.53. E. None of the above. 41. Given the above information, what is the after-tax dividend income? A. $2,241.13. B. $2,221.68. C. $1,834.79. D. $3,798.08. E. None of the above. 42. Given the above information, what is the after-tax interest income? A. $599.95. B. $712.34 C. 8859.95. D. $1,008.21. E. None of the above. 43. Given the above information, what is the after-tax capital gain income? A. $1,246.05. B. $2,380.46. C. $1,894.27. D. $1,573.30. E. None of the above

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