The following chart shows ownership percentages of Devon Corp. in X, Y, and Z Corporations and dividends received by Devon from these corporations in 2017.

Devon is a calendar year corporation and received no other dividends in 2017. What amount of dividend income must be included by Devon on its 2017 corporate tax return?

a. $126,000

b. $114,000

c. $94,000

d. $106,000

Transcribed Image Text:

Devon's Ownership Percentage Dividend Received X Corp. Y Corp. Z Corp. 15 $100,000 20 120,000 30 200,000