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Crane and Loon Corporations, two unrelated C corporations, have the following transactions for the current year. Crane Loon Gross income from operations $201,000 $321,600 Expenses
Crane and Loon Corporations, two unrelated C corporations, have the following transactions for the current year. Crane Loon Gross income from operations $201,000 $321,600 Expenses from operations 281,400 337,680 Dividends received from domestic corporations (15% ownership) 120,600 241,200 Click here to access the dividends received deduction table. a. Compute the dividends received deduction for Crane Corporation. 20,100 b. Compute the dividends received deduction for Loon Corporation
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