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The Wendt Corporation reported $70 million of taxable income. Its federal tax rate was 21% (ignore...

The Wendt Corporation reported $70 million of taxable income. Its federal tax rate was 21% (ignore any possible state corporate taxes). What is the company's federal income tax bill for the year. Assume the firm receives an additional $4 million of interest income from some bonds it owns. What is the additional tax on this interest income.  Assume the firm receives an additional $4 million of interest income from some bonds it owns. What is the additional tax on this interest income. Assume the firm receives an additional $4 million of interest income from some bonds it owns. What is the additional tax on this interest income.  Now assume that Wendt does not receive the interest income but does receive an additional $4 million as dividends on some stock it owns. Recall that 50% of dividends received are tax exempt. What is the additional tax on this dividend income?

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