Orange Corporation Owns Stock in White Corporation and Has Net

Multiple Choice

Orange Corporation owns stock in White Corporation and has net operating income of $400,000 for the year.White Corporation pays Orange a dividend of $60,000.What amount of dividends received deduction may Orange claim if it owns 45% of White stock (assuming Orange's dividends received deduction is not limited by its taxable income) ?

A) $27,000
B) $42,000
C) $48,000
D) $60,000
E) None of the above