Problem $15-53($LO $15-3)($Algo$)$

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Marathon Incorporated $($a C corporation$)$ reported $$1,750,000$ of taxable income in the current year. During the year, it distributed $$175,000$ as dividends to its shareholders as follows:

$$8,750$ to Guy, a $5$ percent individual shareholder.

$$26,250$ to Little Rock Corporation, a $15$ percent shareholder $($C corporation$).$

$$140,000$ to other shareholders.

Note: Leave no answer blank. Enter zero if applicable.

Problem $15-53$ Parts a$,$b$,$ and c $($Algo$)$

Required:

How much of the dividend payment did Marathon deduct in determining its taxable income?

Assuming Guy's marginal ordinary tax rate is $37$ percent, how much tax will he pay on the $$8,750$ dividend he received from Marathon Incorporated $($including the net investment income tax$)?$

What amount of tax will Little Rock Corporation pay on the $$26,250$ dividend it received from Marathon Incorporated $(50$ percent dividends$-$received deduction$)?$

Note: Round your final answers to the nearest whole dollar amounts.