Question

Danat Corporation reports the following results in the current year: Gross income from operations (does not...

Danat Corporation reports the following results in the current year: Gross income from operations (does not include $100,000 of dividends received – see below) $300,000 Dividends from 15% owned domestic company 100,000 Operating expenses 320,000 What is Danat’s allowable dividends received deduction? a. $50,000. b. $40,000. c. None of the above.

Danat Corporation reports the following results in the current year:

Gross income from operations (does not include $100,000 of dividends received – see below)

$300,000

Dividends from 15% owned domestic company

100,000

Operating expenses

351,000

What is Danat’s allowable dividends received deduction?

a. $50,000.

b. $40,000.

c. zero.

d. N

one of the above.

Danat Corporation reports the following results in the current year:

  1. Gross income from operations (does not include $100,000 of dividends received – see below)

    $300,000

    Dividends from 25% owned domestic company

    100,000

    Operating expenses

    320,000

    What is Danat’s allowable dividends received deduction?

    a. $65,000.

    b. $15,000.

    c. $52,000.

    d. None of the above.

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