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Your corporation has the following cash flows: Operating income Interest received Interest paid Dividends received Dividends paid 250,000 $10,000 $45,000 $24,000 $50,000 If the applicable

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Your corporation has the following cash flows: Operating income Interest received Interest paid Dividends received Dividends paid 250,000 $10,000 $45,000 $24,000 $50,000 If the applicable income tax rate is 40% (federal and state combined), and if 70% of dividends received are exempt from taxes, what is the corporation's tax liability? a. $84,436 b-$88,880 c. $94,213 O d. $73,770 e. $85,325

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