In 2012, Baroque, Inc, a U. S. corporation, earned profits of $200,000 before taxes. After paying federal income taxes of 30%, all of Baroque's after-tax income was paid to its only shareholder
The federal income tax rate on corporate dividends is 15%. How much tax will Baroque's shareholder pay on these dividends?
A) $21,000
B) $30,000
C) $60,000
D) $102,000
A
Business
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