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W. whose marginal tax rate on ordinary income is 37 percent and special rate on qualified dividends is 20 percent, owns 100 percent of the
W. whose marginal tax rate on ordinary income is 37 percent and special rate on qualified dividends is 20 percent, owns 100 percent of the stock of X Corporation. This year. X generates $1 million of taxable income. X is subject to a 21% corporate tax rate. If X wants to pay all of its after-tax earnings to Was a dividend, compute W's after- tax cash flow from the dividend receipt
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