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 15% of White stock (assuming Orange's dividends received deduction is not limited by its taxable income) ?
A) $0.
B) $42,000.
C) $48,000.
D) $60,000.
E) None of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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