After several years of profitable operations, Javell, the sole shareholder of JBD Inc., a C corporation, sold 18 percent of her JBD stock to ZNO Ic., a C corporation in a similar industry. During the current year JBD reports $1,660,000 of after-tax income. JBD distributes all of its after-tax earnings to its two shareholders in proportion to their shareholdings. Assume ZNO's marginal tax rate is 35 percent. How much tax will ZNO pay on the dividend it receives from JBD? What is ZNO's overall tax rate on its dividend income? [Hint. See IRC $243(a).] (Round the "overall tax rate" to 1 decimal place.) ZNO's tax on dividend ZNO's overall tax rate on dividend