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9. Orange Corporation owns stock in White Corporation and has net operating income of S400,000 for the year. White Corporation pays Orange a dividend of

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9. Orange Corporation owns stock in White Corporation and has net operating income of S400,000 for the year. White Corporation pays Orange a dividend of $60,000. What amount ofdividends received deduction may Orange claim if it owns,45% of white stock (assuming Orange's dividends received deduction is not limited by its taxable income)

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