A C corporation earns $4.30 per share before taxes. The corporate tax rate is 35%, the personal tax rate on dividends is 20%, and the personal tax rate on non-dividend income is 39%. What is the total amount of taxes paid if the company pays a $3.00 dividend?
A) $1.68
B) $2.53
C) $2.11
D) $2.95
Correct Answer:
Verified
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