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How much part tax should be payable from monster inc

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Monster Inc. owns 66 2/3 % of Scarem Co. Scarem pays 100,000 in dividends, of which $ 66,667 goes to Monster Inc. Based on their Refundable dividend tax on hand being $21,000 Scarem receives a dividend refund of $21,000.

Problem 1: From these transactions, how much Part IV tax should be payable from Monster Inc.

Option 1: $21,000

Option 2: $14,000

Option 3: $7,000

Option 4: $25,554

Reference no: EM132784984

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