reported net income of $45,000 and paid dividends of $10,000 in 208. Putter reported ope the year. There is 80 percent exemption of intercompany dividends and the effective tax ratif the equity method is being used. 3ased on the preceding information, what would Putter report as income tax expense for the ye Multiple Choice $22,540 lim $23,800 $17,500 $18,760 reported net income of $45,000 and paid dividends of $10,000 in 208. Putter reported ope the year. There is 80 percent exemption of intercompany dividends and the effective tax ratif the equity method is being used. 3ased on the preceding information, what would Putter report as income tax expense for the ye Multiple Choice $22,540 lim $23,800 $17,500 $18,760