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This quesiton is wrong and the website don't allow you to make comments to tell the correct answer. The answer is wrong because the dividend received deduction DRD is not factored in Using or less ownership in the company, the DRD is of the dividend income. Which means the taxes due is only on of the $ which is $ and the correct answer would be $ vice the $ the website shows. I hope this helps. Question: Matthews, Incorporated, received total dividend income of $ this year from the various stocks it owns. The firms tax rate is percent. How much tax does the firm owe on this income?
This quesiton is wrong and the website don't allow you to make comments to tell the correct answer. The answer is wrong because the dividend received deduction DRD is not factored in Using or less ownership in the company, the DRD is of the dividend income. Which means the taxes due is only on of the $ which is $ and the correct answer would be $ vice the $ the website shows. I hope this helps.
Question: Matthews, Incorporated, received total dividend income of $ this year from the various stocks it owns. The firms tax rate is percent. How much tax does the firm owe on this income?
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