Lorin has $3,000 of dividend income and $18,000 of capital gains in her equity investment in 2020. Her marginal tax rate is 40% and the effective tax rate is 30% for the same year. Calculate the amount of tax she'll pay on her dividend income and capital gains combined from her equity investment. Assume that she lives in Toronto and she is not elligible for dividend tax credit (Do not use the $ sign. If your answer is $12,345.67, enter 12345.67). Numeric Response
Lorin has $3,000 of dividend income and $18,000 of capital gains in her equity investment in 2020. Her marginal tax rate is 40% and the effective tax rate is 30% for the same year. Calculate the amount of tax she'll pay on her dividend income and capital gains combined from her equity investment. Assume that she lives in Toronto and she is not elligible for dividend tax credit (Do not use the $ sign. If your answer is $12,345.67, enter 12345.67). Numeric Response
Chapter3: Computing The Tax
Section: Chapter Questions
Problem 37P
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17) Can i please get help with this question
Transcribed Image Text:Lorin has $3,o00 of dividend income and $18,000 of capital gains in her equity investment in 2020. Her marginal tax rate is 40% and the effective tax
rate is 30% for the same year. Calculate the amount of tax she'll pay on her dividend income and capital gains combined from her equity investment.
Assume that she lives in Toronto and she is not elligible for dividend tax credit (Do not use the $ sign. If your answer is $12,345.67, enter 12345.67).
Numeric Response
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