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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
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