Last year,Martyn Company had $260,000 in taxable income from its operations,$50,000 in interest income,and $100,000 in dividend income.Using the corporate tax rate table given below,what was the company's tax liability for the year? Assume a 70% dividend exclusion for tax on dividends.

Question

Last year,Martyn Company had $260,000 in taxable income from its operations,$50,000 in interest income,and $100,000 in dividend income.Using the corporate tax rate table given below,what was the company's tax liability for the year?  ​ Assume a 70% dividend exclusion for tax on dividends.

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The Answer of Last year,Martyn Company had $260,000 in taxable income from its operations,$50,000 in interest income,and $100,000 in dividend income.Using the corporate tax rate table given below,what was the company's tax liability for the year?  ​ Assume a 70% dividend exclusion for tax on dividends.

Last Year,Martyn Company Had $260,000 in Taxable Income from Its