Question 16 1 points S You are a shareholder in a C-corporation. The corporation earns $12 per share before taxes. After paying corporate taxes, the firm distributes the rest of its earnings to you as a dividend. The dividend is income to you, so you will then pay taxes on these earnings. The corporate tax rate is 35% and your tax rate on dividend income is 10%. How much is the individual dividend tax if the corporate pays all profits as dividends? Enter your answer in the following format: 12.34