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During 2020, 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 2020, 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:

5% of Roadrunners stock.
25% of Roadrunners stock

Show your work.

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