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Compute dividends received deduction for Loon Corporation

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Reference no: EM132866188

Problem - Crane and Loon Corporations, two unrelated C corporations, have the following transactions for the current year.

 

Crane

Loon

Gross income from operations

$241,000

$385,600

Expenses from operations

337,400

404,880

Dividends received from domestic corporations (15% ownership)

144,600

289,200

Required -

a. Compute the dividends received deduction for Crane Corporation.

b. Compute the dividends received deduction for Loon Corporation.

Reference no: EM132866188

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