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Compute dividends received deduction for crane corporation

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Reference no: EM132092434

Question - Crane and Loon Corporations, two unrelated C corporations, have the following transactions for 2015:

 

Crane

Loon

Gross income from operations

$273,500

$437,600

Expenses from operations

382,900

459,480

Dividends received from domestic corporations (15% ownership)

164,100

328,200

a. Compute the dividends received deduction for Crane Corporation.

b. Compute the dividends received deduction for Loon Corporation.

Reference no: EM132092434

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