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How much is purple corporation dividend received deduction

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Question - Purple Corporation owns 70% of the stock of White Corporation, which pays it a dividend of $100,000. Purple Corporation also owns 10% of the stock of Black Corporation, which pays it a $40,000 dividend. Assuming the taxable income limitation does not apply, how much is Purple Corporation's dividend received deduction for the year?

a. 140,000

b. 190,000

c. $70,000

d. $85,000

Reference no: EM132697048

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