Marathon Inc. (a C corporation) reported $1,000,000 of taxable income in the current year. During...
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Marathon Inc. (a C corporation) reported $1,000,000 of taxable income in the current year. During the year it distributed $100,000 as dividends to its shareholders as follows: $10,000 to Guy a 10% individual shareholder. $10,000 to Little Rock Corp. a 10% shareholder (C corporation) $80,000 to other shareholders. Assuming Guys marginal ordinary tax rate is 37%, how much tax will he pay on the dividend he received from Marathon Inc. (including the net investment income tax)?
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