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QUESTION

Just Blooms Flower Shops are a chain organized as a corporation. Last year its operating income was $ 3,576,000. Its corporate tax rate is 33%.

Just Blooms Flower Shops are a chain organized as a corporation.  Last year its operating income was $ 3,576,000.  Its corporate tax rate is 33%.  If it plans to distribute 25% of its net income as dividends to its shareholders, how much money will be paid out as dividends assuming a flat tax rate?  Note:  Dividends are paid out of earnings after taxes are paid.

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