Solved: The federal income tax rate on corporate dividends is 15, Accounting Basics

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The federal income tax rate on corporate dividends is 15

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?

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Accounting Basics: The federal income tax rate on corporate dividends is 15

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