Rebecca Robinson owns 1,000 shares in Infratil Limited (IFT), a company listed on the New Zealand Stock Exchange (NZX). On 19 May 2022, IFT declared a fully imputed final dividend of 12.000 cents per share to be paid to shareholders on 15 June.

1. Briefly explain what dividends are and why most of the dividends paid by NZ companies have imputation credits attached to them.
2. Calculate
3. The total imputation credits attached to Rebeccas dividends. Round the imputation credits per share to 3 decimal places.

(ii) The total RWT withheld on the dividends.

(iii) The total net dividends Rebecca will be paid in her bank account.

(iv) The total gross dividend income for Rebecca.