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Required information [The following information applies to the questions displayed below.] Riverbend Incorporated received a $300,000 dividend from stock it held in Hobble Corporation. Riverbend's
Required information [The following information applies to the questions displayed below.] Riverbend Incorporated received a $300,000 dividend from stock it held in Hobble Corporation. Riverbend's taxable income is $2,980,000 before deducting the dividends-received deduction (DRD), a $41,000NOL carryover, and a $182,000 charitable contribution. Use Exhibit 16-7. Note: Round your tax rates to 2 decimal places. Leave no answer blank. Enter zero if applicable. d. Assming that it owns 37 percent of Hobble Corporation, what is Riverbend's marginal tax rate on the dividend
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