for the current year maple corporation a c corporation reports taxable income of 252 3731321
For the current year, Maple Corporation, a C corporation,reports taxable income of $252,000 before paying salary to its soleshareholder, Diane. Diane’s marginal tax rate on ordinary income is35.9 percent (including the additional Medicare tax) and 18.8percent on dividend income (including the 3.8% net investmentincome tax). If Maple pays Diane a salary of $198,000 but the IRSdetermines that Diane’s salary in excess of $150,000 isunreasonable compensation, what is the amount of the overall tax(corporate level + shareholder level) on Maple’s $252,000pre-salary income? Assume Maple’s tax rate is 35 percent and itdistributes all after-tax earnings to Diane.
(Round yourintermediate calculations and final answers to the nearest wholedollar amount.)