You are a shareholder in an S corporation. The corporation earns $8.5 per share before taxes. Once it has paid any applicable taxes it will distribute the rest of its earnings to you as a dividend. The corporate tax rate is 1.9%, and the personal tax rate on income is 7.1 %. How much is left for you after all taxes are paid? The amount that remain is $ per share. (Round to two decimal places.)
You are a shareholder in an S corporation. The corporation earns $8.5 per share before taxes. Once it has paid any applicable taxes it will distribute the rest of its earnings to you as a dividend. The corporate tax rate is 1.9%, and the personal tax rate on income is 7.1 %. How much is left for you after all taxes are paid? The amount that remain is $ per share. (Round to two decimal places.)
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter6: Accounting For Financial Management
Section: Chapter Questions
Problem 7P
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![You are a shareholder in an S corporation. The corporation earns $8.5 per share before taxes. Once it has paid any applicable taxes it will distribute the rest of its earnings to you as a dividend. The corporate
tax rate is 1.9%, and the personal tax rate on income is 7.1 %. How much is left for you after all taxes are paid? The amount that remain is $ per share. (Round to two decimal places.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3b49824d-adb4-4c6e-80e5-0d4b501030f3%2F66ee636d-0bd2-41b6-ab3d-5a865266a890%2Ficp38jq_processed.png&w=3840&q=75)
Transcribed Image Text:You are a shareholder in an S corporation. The corporation earns $8.5 per share before taxes. Once it has paid any applicable taxes it will distribute the rest of its earnings to you as a dividend. The corporate
tax rate is 1.9%, and the personal tax rate on income is 7.1 %. How much is left for you after all taxes are paid? The amount that remain is $ per share. (Round to two decimal places.)
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