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Business, 12.04.2021 23:40 ecarter8967

Crane and Loon corporations, two unrelated C corporations, have the following transactions for the current year. Crane Loon
Gross income from operations $213,500 $341,600
Expenses from operations 298,900 358,680
Dividends received from domestic corporations (15% ownership) 128,100 256,200

Required:
a. Compute the dividends received deduction for Crane Corporation.
b. Compute the dividends received deduction for Loon Corporation.

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