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How much is periwinkle corporations dividend received

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Reference no: EM132591293

Question - Periwinkle Corporation owns 15% of the stock of Plum Corporation, which pays it a dividend of $40,000. Periwinkle Corporation also owns 20% of the stock of Platinum Corporation, which pays it a $25,000 dividend. Assuming the taxable income limitation does not apply, how much is Periwinkle Corporation's dividend received deduction for the year?

a. $32,500

b. $42,250

c. $36,250

d. $65,000

e. None of the above

Reference no: EM132591293

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