During 20X5, X co. had the following income and expenses:

Gross income from operations $3,000,000

Business expenses <1,400,000>

Dividends received from Y co. (32% owned by X co.) 400,000

Capital gains 150,000

Capital loss carry forward <183,000>

Net operating loss carry forward <25,000>

a. Determine X co.s dividends received deduction in 20X5?

b. Determine X co.s dividends received deduction in 20X5 assuming that there was no NOL carry forward and X co.s business expenses were:

(i) $3,050,000 or (ii) $3,200,000.