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Susan owns all the debt and equity that is issued by Pinder Ltd. Pinder Ltd has an EBIT of $504,937. Of that EBIT, Pinder Ltd

Susan owns all the debt and equity that is issued by Pinder Ltd. Pinder Ltd has an EBIT of $504,937. Of that EBIT, Pinder Ltd pays interest expenses of $159,368 and distributes all net income as dividends. The corporate tax rate is 28%, and Susans personal income tax rate is 45%, applicable to both dividend and interest income. Susan currently lives under the classical tax system. Based only on the information above, how much more after-tax income would Susan have earned from interest and dividends under an imputation tax system? (round to the nearest two decimal places)

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None of the other answers.

$54,218.60

$53,217.63

$53,717.84

$54,717.63

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