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You are a shareholder in an S corporation. The corporation earns $15 per share before taxes. It decides to retain all the profits and will
You are a shareholder in an S corporation. The corporation earns $15 per share before taxes. It decides to retain all the profits and will not distribute the earnings to shareholders. The corporate tax rate is 21% and your personal income tax rate is 20%. What is the amount of total taxes per share to be paid? Select one: a. No taxes should be paid b. $5.52 c. $3 d. $3.15 e. $2.37
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