Question: Marathon Incorporated ( a C corporation ) reported $ 1 , 5 5 0 , 0 0 0 of taxable income in the current year.

Marathon Incorporated (a C corporation) reported $1,550,000 of taxable income in the current year. During the year, it distributed $155,000 as dividends to its shareholders as follows:
$7,750 to Guy, a 5 percent individual shareholder.
$23,250 to Little Rock Corporation, a 15 percent shareholder (C corporation).
$124,000 to other shareholders.

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