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A business generates profits of $150,000. The owner currently has a 28% MTR. What is...

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Accounting

A business generates profits of $150,000. The owner currently has a 28% MTR. What is the total amount of taxes paid if the business is a regular corporation and $20,000 in dividends is distributed to its sold individual shareholder?

A) Corporate tax, $41,750; individual tax, $3,000

B) Corporate tax, $33,950; individual tax, $5,600

C) Corporate tax, $41,750; individual tax, $5,600

D) Corporate tax, $0; Individual tax, $42,000

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