Last year, shering corporation had pretax earnings from operations of $ 493 comma 000. in addition, it received $ 28 comma 000 in income from interest on bonds it held in zig manufacturing and received $ 28 comma 000 in income from dividends on its 5 % common stock holding in tank industries, inc. shering is in the 21 % tax bracket and is eligible for a 50 % dividend exclusion on its tank industries stock.
a. calculate the firm's tax on its operating earnings only.
b. find the tax and the after-tax amount attributable to the interest income from zig manufacturing bonds.
c. find the tax and the after-tax amount attributable to the dividend income from the tank industries, inc., common stock.
d. compare, contrast, and discuss the after-tax amounts resulting from the interest income and dividend income calculated in parts b. and c.
e. what is the firm's total tax liability for the year?