> XC EN Remaining Time: 1 hour, 05 minutes, 12 seconds Question Completion Status remir Tems w wnary M ubary Hong Kong, The subsmary, Jewel Hong Kong has just completed a long term planning report for the parent company in San Francisco, in which it has estimated the following expected ears and payout rates for the years 2017-2018 The current Hong Kong corporate tax rate on this category of income is 1296. Hong Kongposes no withholding taxes on dividends remitted to US investors (per the Hong Kong United States bilateral tax treaty). The US corporate income tax rate is 2196. The parent company wants to repatriate 75% of net income as dividends way United States Country Corporate income tax rate Dividend payout rate Withholding tax on dividends Hong Kong 12.096 75.096 21.046 0.096 Jewel Hong Kong Income Items (millions USS) Earnings before interest and taxes (EBIT) Less interest expenses Eamings before taxes (EBT) Less Hong Kong corporate income taxes . Net income Retained eamings Dividend remitted to U.S.parent 2017 8000 (800) 7,200 (864) 6,336 2018 10.000 (1.000) 9.000 (1.080) 7,920 1,980 5,940 2017 2018 United States Taxation: Gressup 3 $ 35 5,940 Gross dividend remitted Less withholding taxes b. Net dividend remitted - 3S 5,940 810 Add back proportion of corp income tax Click Save and Submit to save and submit. Click Save All Answers to save all answers