Purrfect Pet Industries' income before taxes is $810,000 and its tax rate is 50%. Purrfect Pet included $50,000 of fully deductible inter-corporate dividends received in the $810,000. There are no other book-tax differences. What is the income tax payable for Purrfect Pet?
A) $405,000
B) $430,000
C) $25,000
D) $380,000
Correct Answer:
Verified
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