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3. During the current year, Corporation G received $30,000 in dividends from a 60%-owned taxable domestic corporation. G received no other dividends. G's charitable contributions
3. During the current year, Corporation G received $30,000 in dividends from a 60%-owned taxable domestic corporation. G received no other dividends. G's charitable contributions for the year totaled $15,000. G's taxable income for the year was $70,000 after the dividends-received deduction but before the deduction for charitable contributions. What is the amount of Corporation G's charitable contribution deduction for the year? A. $7,000 B. $8,950 C. $10,000 D. $15,000
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