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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 $298,500 $477,600 Expenses
Crane and Loon Corporations, two unrelated C corporations, have the following transactions for the current year: Crane Loon Gross income from operations $298,500 $477,600 Expenses from operations 417,900 501,480 Dividends received from domestic corporations (15% ownership) 179,100 358,200 Click here to access the dividends received deduction table. a. Compute the dividends received deduction for Crane Corporation. $____ b. Compute the dividends received deduction for Loon Corporation. $____
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