Last year,Martyn Company had $340,000 in taxable income from its operations,$50,000 in interest income,and $100,000 in dividend income.Its corporate tax rate is 25%.What was the company's tax liability for the year? Assume a 50% dividend exclusion for tax on dividends
A) $110,000
B) $150,100
C) $125,000
D) $108,522
E) $162,792
Correct Answer:
Verified
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