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Find the maggie corporation dividend received deduction

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Question - For the year 2019, Maggie Corporation, a calendar year corporation, had the following Income and Expenses: Gross Income (Revenues) From Operations- $600,000; Expenses From Operations- $680,000; Dividends Received (Less than twenty percent (20%) owned domestic corporation)- $140,000. Find the Maggie Corporation's Dividend Received Deduction for the year of 2019?

1. $70,000

2. $140,000

3. $30,000

4. $60,000

Reference no: EM132635570

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