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! Required information [ The following information applies to the questions displayed below. ] Marathon Incorporated ( a C corporation ) reported $ 1 ,
Required information
The following information applies to the questions displayed below.
Marathon Incorporated a C corporation reported $ of taxable income in the current year. During the year, it
distributed $ as dividends to its shareholders as follows:
$ to Guy, a percent individual shareholder.
$ to Little Rock Corporation, a percent shareholder C corporation
$ to other shareholders.
Note: Leave no answer blank. Enter zero if applicable.
Required:
a How much of the dividend payment did Marathon deduct in determining its taxable income?
b Assuming Guy's marginal ordinary tax rate is percent, how much tax will he pay on the $ dividend he received from
Marathon Incorporated including the net investment income tax
c What amount of tax will Little Rock Corporation pay on the $ dividend it received from Marathon Incorporated percent
dividendsreceived deduction
Note: Round your final answers to the nearest whole dollar amounts.
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