Nancy Smith is the sole shareholder and employee of White Corporation, a C corporation that is engaged exclusively in accounting services. During the year, White has operating income of $ and operating expenses excluding bonus paid to Nancy of $ White Corporation decided to pay Nancy a bonus of $ cash on nice!!! She had not received a \"salary\" from the corporation before! Of course, Nancy played a role in paying this bonus she worked hard! The salary the bonus is reasonable in amount and Nancy, while not in the highest tax bracket, is still in the marginal federal income tax bracket so she will pay tax on this bonus she receives from White. Assuming that White Corporation distributes all of the aftertax income of $ie as qualified dividends to Nancy on how much total combined federal income tax does Nancy pay for the tax year on this bonus plus qualified dividend she receives here? Ignore any employment tax considerations.

Nancy Smith is the sole shareholder and employee of White Corporation, a C corporation that is engaged exclusively in accounting services. During the year, White has operating income of $ and operating expenses excluding bonus paid to Nancy of $ White Corporation decided to pay Nancy a bonus of $ cash on nice!!! She had not received a \"salary\" from the corporation before! Of course, Nancy played a role in paying this bonus she worked hard! The salary the bonus is reasonable in amount and Nancy, while not in the highest tax bracket, is still in the marginal federal income tax bracket so she will pay tax on this bonus she receives from White. Assuming that White Corporation distributes all of the aftertax income of $ie as qualified dividends to Nancy on how much total combined federal income tax does Nancy pay for the tax year on this bonus plus qualified dividend she receives here? Ignore any employment tax considerations.