How much more tax will logan pay currently

Reference no: EM132680530

Problem 1: Logan's tax basis in his MG stock was $152,500 at the beginning ottne year, and he received $77,500 ordinary income from other sources during the year. Assuming Logan's marginal tax rate is 24%, how much more tax will Logan pay currently if MG is a C corporation compared to the tax he would pay if it were an S corporation?

Multiple Choice

Option 1: 0

Option 1: 6,000

Option 1: 12,600

Option 1: 18,600

Reference no: EM132680530

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