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SNL Corporation, a C corporation, reports $400,000 of taxable income in 2019. Its sole shareholder, Kate, has a marginal tax rate of 35% and an

SNL Corporation, a C corporation, reports $400,000 of taxable income in 2019. Its sole shareholder, Kate, has a marginal tax rate of 35% and an 18.3% tax rate on dividends. If SNL Corporation distributes all of its after-tax earnings to Kate, how muchtotaltax will be paid on the SNL Corporation income?

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