Sherry's marginal federal tax rate is 29 percent. She lives in a province where her provin- cial marginal tax rate is 17.5 percent and the provincial dividend tax credit is 31 percent of the dividend gross up. If Sherry receives an eligible dividend of $16,000 from a Canadian public corporation in 2019, how much will she pay in income tax (federal + provincial)?

HINT - you need to find the appropriate federal dividend tax credit.

Group of answer choices

$5,066

$2,827

$6,150

$8,382