Dixie Incorporated a Tennessee corporation, conducts business in South America through two foreign corporations, Dix-Col Incorporated and Dix-Per Incorporated Dixie formed Dix-Col six years ago and owns 100 percent of its stock. Dix-Per was formed six months ago and Dixie owns 50 percent of its stock. In addition, Dixie owns 7 percent of the stock of Albi, Incorporated, a French corporation. This year, Dixie recognized the following dividend distributions from the three foreign corporations:

Dix-Col Incorporated	$ 306,000
Dix-Per Incorporated	290,500
Albi Incorporated	130,000

Required:

1. Compute Dixies allowable dividends-received deduction with respect to each dividend.
2. Compute Dixies net dividend income.