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Complete all parts please Crane and Loon corporations, two unrelated C corporations, have the following transactions for the current year. Gross income from operations Expenses
Complete all parts please
Crane and Loon corporations, two unrelated C corporations, have the following transactions for the current year. Gross income from operations Expenses from operations Dividends received from domestic corporations (15% ownership) Click here to access the dividends received deduction table. Crane $263,500 368,900 158,100 Loon $421,600 442,680 316,200 a. b. Compute the dividends received deduction for Crane Corporation. Compute the dividends received deduction for Loon Corporation.
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