During the Current Year,Timepiece Corporation Has Operating Income of $460,000

Multiple Choice

During the current year,Timepiece Corporation has operating income of $460,000 and dividend income of $70,000 from 45% owned domestic corporations.Total operating expenses for the year are $470,000.What is Timepiece's dividends-received deduction for the current year?

A) $- 0 -
B) $48,000
C) $56,000
D) $60,000
E) $70,000