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Compute the dividends received deduction for Crane

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Reference no: EM132660850

Problem - Crane and Loon corporations, two unrelated calendar year C corporations, have the following transactions for the current year:

 

Crane

Loon

Gross income from operations

$180,000

$300,000

Expenses from operations

255,000

310,000

Dividends received from domestic corporations (15% ownership)

100,000

230,000

Required -

a. Compute the dividends received deduction for Crane Corporation.

b. Compute the dividends received deduction for Loon Corporation.

Reference no: EM132660850

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