37. LO.1, 7 How would your answer to parts (a) and (b) of Problem 36 differ if...

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37. LO.1, 7 How would your answer to parts

(a) and

(b) of Problem 36 differ if Julio were a corporate shareholder (in the 21% tax bracket) rather than an individual shareholder and the stock ownership in Gray Corporation represented a 25%

interest?

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