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What is the amount and nature of the book-tax

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Coop Inc. owns 36% of Chicken Inc., both Coop and Chicken are corporations. Chicken pays Coop a dividend of $21,000 in the current year. Chicken also reports financial accounting earnings of $31,000 for that year. Assume Coop follows the general rule of accounting for investment in Chicken.

What is the amount and nature of the book-tax difference to Coop associated with the dividend distribution (ignoring the dividends received deduction)?

Reference no: EM132315985

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