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Problem - Gold and Silver are two unrelated calendar year corporations. For the current year, both entities incurred the following transactions.
Gold
Silver
Income from operations
$220,000
$260,000
Expenses from operations
22.5,000
340,000
Dividends received from domestic corporations (15% ownership)
100,000
130,000
Taxable income before dividends received deduction
$95,000
$50,000
Required - What is the dividends received deduction for:
a. Gold Corporation?
b. Silver Corporation?
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