Copper corporation owns stock in bronze corporation

Assignment Help Financial Accounting

Reference no: EM13915496

3. (TCOs 1, 8, and 9) Copper Corporation owns stock in Bronze Corporation and has net operating income of $900,000 for the year. Bronze Corporation pays Copper a dividend of $150,000. What amount of dividends received deduction may Copper claim if it owns 65% of Bronze stock (assuming Copper's dividends received deduction is not limited by its taxable income)?

$105,000

$120,000

$150,000

None of the above

Reference no: EM13915496

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