Corporation A owns 70% of all classes of stock in Corporation B throughout 2021. Corporations A and B are Subchapter C corporations, and they are both domestic corporations. The Board of Directors of Corp. B authorized and paid $800,000 in cash dividends to Corporation A. Assume Corporation A qualifies for the Dividends Received Deduction. For tax purposes, how much does Corporation A recognize on Form 1120 for 2021, and how much is the Dividends Received Deduction for 2021?

$800,000 recognized; $520,000 DRD $520,000 recognized; $280,000 DRD $280,000 recognized; $520,000 DRD $280,000 recognized; $800,000 DRD None of the other choices are correct.