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Crane and Loon corporations, two unrelated C corporations, have the following transactions for the current year.
Crane Loon
Gross income from operations $278,500 $445,600
Expenses from operations 389,900 467,880
Dividends received from domestic corporations (15% ownership) 167,100 334,200
Problem a. Compute the dividends received deduction for Crane Corporation.
Problem b. Compute the dividends received deduction for Loon Corporation.
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