Yacktman Focused (YAFFX) portfolio managers are very valuation conscious in their stock selection. If there arent enough attractive investment opportunities, they let cash build in the mutual fund. This at times may cause performance drag in when markets rally, but favorable risk-adjusted returns in a declining market. YAFFX pays mutual fund shareholders once a year in December. You currently own 1,025 shares in YAFFX in a taxable investment account. On December 27, 2018, YAFFX distributed:

$ 0.311 dividends per share $ 3.6276 long-term capital gains per share If your federal income tax rate is 22%, what is your tax liability for 2018?

	A	$596
	B	$628
	C	$611
	D	$610