Solved: Effective tax rate on corporations taxable income, Accounting Basics

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Effective tax rate on corporations taxable income

Problem:

The Kammerling Corporation has $250,000 of taxable income. It distributes $100,000 of that income as a dividend to its sole shareholder whose other income puts him in the 35 percent marginal tax bracket.

Calculate the effective tax rate on the corporation's $250,000 of taxable income?

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Accounting Basics: Effective tax rate on corporations taxable income

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Accounting Basics: Effective tax rate on corporations taxable income

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