J. Miller, an individual, receives $1,000 from Davis Corp. in dividends and is in the 40% tax bracket. Davis Corp. already paid corporate taxes on the $1,000 at a 30% tax rate. How much in personal taxes will J. Miller need to pay? Your Answer:

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J. Miller, an individual, receives $1,000 from Davis Corp. in dividends and is in the 40% tax bracket. Davis Corp. already paid corporate taxes on the $1,000 at a 30% tax rate. How much in personal taxes will J. Miller need to pay? Your Answer: J. Miller, an individual, receives $1,000 from Davis Corp. in dividends and is in the 40% tax bracket. Davis Corp. already paid corporate taxes on the $1,000 at a 30% tax rate. How much in personal taxes will J. Miller need to pay? Your Answer: