Mountain Company owns 25% of Valley Company. Both are domestic corporations. Valley pays a $60,000 dividend to
Question:
Mountain Company owns 25% of Valley Company. Both are domestic corporations. Valley pays a $60,000 dividend to Mountain. What amount of dividend income will be included in the taxable income of Mountain Company?
a. $15,000.
b. $21,000.
c. $39,000.
d. $60,000.
DividendA dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...
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