Problem: Module 8 Textbook Problem 8 Learning Objective: 8-7 Explain why corporate profits distributed as dividends are double-taxed James, who is in the 35 percent marginal tax bracket with a 15 percent tax rate on dividends, owns 100 percent of the stock of JJ Inc. This year, JJ generates $377,000 taxable income and pays a $75,400 dividend to James Compute his tax on the dividend under each of the following assumptions: Required: a. The special qualified dividend tax rate provided above applies to the dividend payment Complete this question by entering your answers in the tabs below. Required A Compute his tax on the dividend assuming the federal tax rules currently in effect apply to the dividend payment. Tax on the dividend (Required