Crane and Loon Corporations, two unrelated C corporations, have the following transactions for the current year:

	Crane		Loon
Gross income from operations	$278,500		$445,600
Expenses from operations	389,900		467,880
Dividends received from domestic corporations (15% ownership)	167,100		334,200

Click here to access the dividends received deduction table.

a. Compute the dividends received deduction for Crane Corporation. $fill in the blank 1

b. Compute the dividends received deduction for Loon Corporation. $fill in the blank 2

EXHIBIT 12.4 Dividends Received Deduction Percentage of Ownership by Corporate Shareholder Deduction Percentage 50% Less than 20% 20% or more (but less than 80%) 80% or more* 65% 100% *The payor corporation must be a member of an affiliated group with the recipient corporation