QUESTION 23 Alice is a shareholder in Axel, Inc. (an S corporation). Her share of the S corporation's current ordinary business income was $100,000. She received a $60,000 cash distribution from the S corporation on December 1. Alice qualifies for the Section 199A deduction, without regard to the wage limitation (i.e., she can claim the simplified Section 199A deduction). Assuming that Alice's marginal tax rate is 24%, calculate her after-tax cash flow from the pass-through this year. $36,000 $48,480 $40,800 $60,800