Problem: Module $9$ Textbook Problem $3$

Learning Objective: $9-2$ Calculate after$-$tax cash flow from passthrough entities and taxable corporations

Mr$.$ and Mrs$.$ Lund and their two children $($Ben and June$)$ are the four equal partners in LBJ Partnership. This year, LBJ generated $$48,000$ ordinary income.

Required:

Compute the tax cost for the business if Mr$.$ and Mrs$.$ Lund$$s marginal rate is $32$ percent, Ben$$s marginal rate is $24$ percent, and June$$s marginal rate is $12$ percent. $($Ignore SE tax consequences.$)$