Katie owns 12.5% of the stock of the Gimli Corporation.The tax rate on dividend income is 24%.If Gimli makes a dividend payment of $25,000,000 paid proportionally to its shareholders,how much of this amount would Katie receive after taxes?
A) $750,000
B) $2,375,000
C) $3,125,000
D) $6,000,000
E) $19,000,000
Correct Answer:
Verified
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