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What is the maximum DRD available to Parent

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Reference no: EM132661092

Problem - Parent Corp. owns 40% of Sub Corp. In the current year, Parent has gross income of $43,000 and allowable deductions of $30,000 before considering any dividends received deduction (DRD). Included in the $43,000 gross income is $8,000 of dividends from Sub. What is the maximum DRD available to Parent?

a. $4,000

b. $5,200

c. $8,000

d. $8,450

Reference no: EM132661092

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