Superior Corporation reported taxable income of $1,000,000 in 20X3.Superior paid a dividend of $100,000 to its sole shareholder,Mary Yooper.Superior Corporation is subject to a flat rate tax of 34%.The dividend meets the requirements to be a "qualified dividend" and Mary is subject to a tax rate of 15% on the dividend.What is the total federal income tax imposed on the corporate income earned by Superior including taxes on the amount distributed to Mary as a dividend?

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The Answer of Superior Corporation reported taxable income of $1,000,000 in 20X3.Superior paid a dividend of $100,000 to its sole shareholder,Mary Yooper.Superior Corporation is subject to a flat rate tax of 34%.The dividend meets the requirements to be a "qualified dividend" and Mary is subject to a tax rate of 15% on the dividend.What is the total federal income tax imposed on the corporate income earned by Superior including taxes on the amount distributed to Mary as a dividend?

Superior Corporation Reported Taxable Income of $1,000,000 in 20X3