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What is the overall tax rate on crocket pre tax income

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Question - Crocket and Company Inc. had taxable income of $550,000. At the end of the year, it distributes all its after tax earnings to Jimmy, the company's sole shareholder. Jimmy's marginal ordinary tax rate it 34% and his marginal tax rate on dividends is 15%. What is the overall tax rate on Crocket and Company's pre tax income

A. 9.9%

B. 15%

C. 35%

D. 43.9%

E. 66.7%

Reference no: EM132075090

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