107 from chapter 14 Comprehensive Problem.

Last year, Intrepid Corporations tax return revealed the following items:

Dividends from 20 percent owned domestic corporations	$60,000
Gross income from services rendered	300,000
Miscellaneous expenses	250,000
Long-term capital gains	30,000
Net operating loss carryforward	15,000
Charitable contributions	20,000

1. What is Intrepids dividends-received deduction?
2. What is the charitable contribution deduction?
3. What is the taxable income for the year?