Palmquist Corporation and Its 80%-Owned Subsidiary,Sadler Corporation,are Members of an Affiliated

question 38

Multiple Choice

Palmquist Corporation and its 80%-owned subsidiary,Sadler Corporation,are members of an affiliated group.They do not file consolidated tax returns.Sadler had $3,000,000 of income and paid $1,000,000 dividends in 2014.Palmquist and Sadler had 35% income tax rates.What amount of Sadler's dividends is taxable to Palmquist in 2014?

• A)$0
• B)$70,000
• C)$160,000
• D)$200,000

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Definitions:

Gender Awareness

Recognition and understanding of the differences in gender and the social roles associated with gender.

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A controversial concept in Freudian psychoanalytic theory that suggests the female child experiences anxiety upon realizing she does not have a penis.

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