The Cruise Ship Co.has taxable income of $4,000,000.The company paid out $550,000 in interest expense.The tax rate is 35 percent and the dividend payout ratio is 30 percent.What is the amount that was paid out in dividends?
A) $420,000
B) $550,000
C) $682,500
D) $780,000
E) $980,000
Correct Answer:
Verified
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