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How much is left after all the taxes are paid

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Reference no: EM132997860

Problem 1: Corporation X earns $7.00 before taxes. Once it has paid taxes, it will distribute the rest of its earnings to you as a dividend. Corporate tax rate is 27%, the personal tax rate on dividend income is 23%, and the personal tax rate on ordinary income in 29%. How much is left after all the taxes are paid? Round to the nearest 2 decimals.

Reference no: EM132997860

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