Mathematics, 19.11.2021 06:40 StrawberryCake24
Crane and Loon Corporations, two unrelated C corporations, have the following transactions for the current year.
Crane Loon
Gross income from operations $206,000 $329,600
Expenses from operations 288,400 346,080
Dividends received from domestic corporations (15% ownership) 123,600 247,200
Click here to access the dividends received deduction table.
a. Compute the dividends received deduction for Crane Corporation.
$fill in the blank 1
28,840
b. Compute the dividends received deduction for Loon Corporation.
$fill in the blank 2
161,504
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Crane and Loon Corporations, two unrelated C corporations, have the following transactions for the c...
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