Your corporation has the following cash flows: 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) $ 83,980
B) $ 88,400
C) $ 92,820
D) $ 97,461
E) $102,334

Question

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The Answer of Your corporation has the following cash flows: 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) $ 83,980
B) $ 88,400
C) $ 92,820
D) $ 97,461
E) $102,334

Your Corporation Has the Following Cash Flows: If the Applicable