Your Corporation Has the Following Cash Flows ?
If the Applicable Income Tax Rate Is 40% (Federal

question 56

Multiple Choice

Your corporation has the following cash flows: $$\begin{array} { l r } \text { Operating income } & \$ 250,000 \\\text { Interest received } & \$ 10,000 \\\text { Interest paid } & \$ 45,000 \\\text { Dividends received } & \$ 17,000 \\\text { Dividends paid } & \$ 50,000\end{array}$$
?
If the applicable income tax rate is 40% (federal and state combined) ,and if 70% of dividends received are exempt from taxes,what is the corporation's tax liability?

• A) $87,160
• B) $88,040
• C) $80,116
• D) $108,289
• E) $77,475

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A McDonald’s burger specifically tailored for the Indian market, adjusting its recipe to meet local tastes and dietary preferences.