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Marathon Incorporated a C corporation reported $ of taxable income in the current year. During the year, it distributed $ as dividends to its shareholders as follows:
$ to Guy, a percent individual shareholder.
$ to Little Rock Corporation, a percent shareholder C corporation
$ to other shareholders.
Note: Leave no answer blank. Enter zero if applicable.
Required:
a How much of the dividend payment did Marathon deduct in determining its taxable income?
b Assuming Guy's marginal ordinary tax rate is percent, how much tax will he pay on the $ dividend he received from Marathon Incorporated including the net investment income tax
c What amount of tax will Little Rock Corporation pay on the $ dividend it received from Marathon Incorporated percent dividendsreceived deduction Note: Round your final answers to the nearest whole dollar amounts.
a Amount deductible
b Tax paid
c Tax paid
