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Compute the dividend received deduction for loon corporation

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Reference no: EM132765670

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.

Reference no: EM132765670

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