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1 Required information [The following information applies to the questions displayed below.) Part 1 of 6 Riverbend Inc. received a $267,500 dividend from stock it
1 Required information [The following information applies to the questions displayed below.) Part 1 of 6 Riverbend Inc. received a $267,500 dividend from stock it held in Hobble Corporation. Riverbend's taxable income is $2,440,000 before deducting the dividends received deduction (DRD), a $45,000 NOL carryover, and a $137,000 charitable contribution. Use Exhibit 16-6. (Round your tax rates to 1 decimal place. Leave no answer blank. Enter zero if applicable.) 1.66 points a. What is Riverbend's deductible DRD assuming it owns 10 percent of Hobble Corporation? eBook DRD BE References ! 2 Required information [The following information applies to the questions displayed below. Part 2 of 6 Riverbend Inc. received a $267,500 dividend from stock it held in Hobble Corporation. Riverbend's taxable income is $2,440,000 before deducting the dividends received deduction (DRD), a $45,000 NOL carryover, and a $137,000 charitable contribution. Use Exhibit 16-6. (Round your tax rates to 1 decimal place. Leave no answer blank. Enter zero if applicable.) 1.66 points b. Assuming the facts in part (a), what is Riverbend's marginal tax rate on the dividend? eBook Marginal tax rate % be References 3 Required information [The following information applies to the questions displayed below.) Part 3 of 6 Riverbend Inc. received a $267,500 dividend from stock it held in Hobble Corporation. Riverbend's taxable income is $2,440,000 before deducting the dividends received deduction (DRD), a $45,000 NOL carryover, and a $137,000 charitable contribution. Use Exhibit 16-6. (Round your tax rates to 1 decimal place. Leave no answer blank. Enter zero if applicable.) 1.66 points c. What is Riverbend's DRD assuming it owns 40 percent of Hobble Corporation? eBook DRD References
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