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During 2019, Coyote Corp. (a calendar year C corporation) has the following transactions: Income from operations $260,000 Expenses from operations 305,000 Dividends received from Roadrunner
During 2019, Coyote Corp. (a calendar year C corporation) has the following transactions: Income from operations $260,000 Expenses from operations 305,000 Dividends received from Roadrunner Corporation 115,000 Required: Determine Coyotes dividends received deduction assuming Coyote owns: a. 5% of Roadrunners stock. b. 25% of Roadrunners stock Show your work.
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