In 2020, Mango Inc

question 9

Multiple Choice

In 2020, Mango Inc.earned $150,000 of pre-tax income.The tax rate for the company is 13%.The sole shareholder received all of the net earnings in the form of a non-eligible dividend during the year.The shareholder has a personal tax rate of 50%.Supposing the shareholder is entitled to a total (federal + provincial) dividend tax credit equal to $20,000, what is the net personal tax liability on the dividend (ignoring all other tax implications) ? (Round all numbers to zero decimal places.)

• A)$19,500
• B)$20,000
• C)$55,038
• D)$75,038

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Definitions:

Antislavery Petitions

Written requests submitted to legislative or other governmental bodies advocating for the abolition of slavery.

Elijah Lovejoy

An American Presbyterian minister, journalist, and news editor who became a prominent abolitionist and was murdered for his anti-slavery views.

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A group of people forcefully protesting against slavery and sometimes engaging in violent activities to oppose it.

William Lloyd Garrison

An American abolitionist, journalist, and social reformer, best known for his founding of the anti-slavery newspaper "The Liberator" and his advocacy for the immediate emancipation of all slaves.