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Which is correct about the RJ recognized

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Problem 1: RJ recognized and received $5 million in dividends from a subsidiary. Dividends are taxable when received. Which of the following is correct?

Option 1: The carrying amount is $0 and the tax base is $0

Option 2: The carrying amount is $0 and the tax base is $5,000,000

Option 3: The carrying amount is $5,000,000 and the tax base is $0

Option 4: The carrying amount is $5,000,000 and the tax base is $5,000,000

Reference no: EM132647509

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