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Determine the dividends received deduction for each of the following independent situations. Assume that the percentage of stock owned in the corporation paying the dividend
Determine the dividends received deduction for each of the following independent situations. Assume that the percentage of stock owned in the corporation paying the dividend is 30% for Green Corporation and less than %20 for Red Corporation and Blue Corporation.
| Red Corporation | Blue Corporation | Green Corporation | |
| Income from Operations | $3,000,000 | $4,500,000 | $8,000,000 |
| Expenses of Operations | $2,700,000 | $4,800,000 | $8,400,000 |
| Qualified dividends received | $600,000 | $150,000 | $2,000,000 |
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