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these are all connected to #7 pls answer asap for upvote. 7 is $0 i need 8 and 9 Marathon inc: (a C copporation) reported
these are all connected to #7 pls answer asap for upvote. 7 is $0 i need 8 and 9
Marathon inc: (a C copporation) reported $2,000,000 of taxable income in the current year. Dunng the current year, it distributed $200,000 as dividends to its shareholders as follows - $40,000 to Guy an individuat shareholder - $20,000 to Little Rock Corp. a 10% shareholder (C corporation) - \$140,000 lo other shareholders: How much do the dividend payment did Marazion deduct in deternining its taxable income? QUESTION 8 Same tacts as Ouostion 7 above. Assuming Guy's marginal ordinay tax rate is 37%, how much tax will he pay on the dividend he tecoived trom Marathon Ince (induding the net imestment income tax)? QUESTION 9 Same facts as Queution 7 above. Assuming titto Rock Corp is marginat tax rate is 21%, what amount of tax wit it pay on the dividend is received froen Marathon tha. (50\%) divedends received deduction) Step by Step Solution
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