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Tax HW: Chapters 12 and 13 Help Save & Exlt Submlt Saved Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question Ms. Xie, who is in the 37 percent tax bracket, is the sole shareholder and president of Xenon. The corporation's financial records show the following: Gross incone Eron sales of goods Operating expenses Salary paid to Ms. Xie Dividend distributions 1, 641, 000 points (947,000) (317,000) (217,000) a. Compute the combined tax cost for Xenon and Ms. Xie. (lgnore payroll tax.) b. How would your computation change if Ms. Xie's salary was $534,000 and Xenon paid no dividends? Answer is not complete. Complete this question by entering your answers in the tabs below Required A Required B Compute the combined tax cost for Xenon and Ms. Xie. (Ignore payroll tax.) Xenon's tax Ms. Xie's tax on salary Ms.Xie's tax on dividend Total income tax cost 17,290 43,400 160,690 Required A Required B Tax HW: Chapters 12 and 13 6 Saved Help Save & Exit Submit Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question 1 Ms. Xie, who is in the 37 percent tax bracket, is the sole shareholder and president of Xenon. The corporation's financial records show the following: Gross incone fron sales of goods Operating expenses Selary paid to Ms. Xie Dividend distributions 1,641,000 points (947,000) (317,000) (217,000) a. Compute the combined tax cost for Xenon and Ms. Xie. (Ignore payroll tax.) b. How would your computation change if Ms. Xie's salary was $534,000 and Xenon paid no dividends? Answer is not complete. Complete this question by entering your answers in the tabs below Required A Required B How would your computation change if Ms. Xie s salary was $534,000 and Xenon paid no dividends? Xenon's tax Ms. ie's tax on salary Total income tax cost 197,580 197,580 Required A RequiredB

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