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22. Delta corporation owns 2% of the stock in a U.S. corporation Azul. It receives a dividend from that corporation of $100,000. Delta has $3MM

22. Delta corporation owns 2% of the stock in a U.S. corporation Azul. It receives a dividend from

that corporation of $100,000. Delta has $3MM of taxable income not including the dividend

from Azul.

a) How much gross income from the dividend does Delta report?

b) What if any deduction would Delta be entitled to?

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