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During the current year, Acme Corporation received a total of $ 4 0 , 0 0 0 of dividends, including ( i ) a $

During the current year, Acme Corporation received a total of $40,000 of dividends, including (i) a $10,000 dividend from a 50%-owned foreign corporation, (ii) a $10,000 dividend from a 5%-owned foreign corporation, (iii) a $10,000 dividend from a 70%-owned domestic corporation, and (iv) a $10,000 dividend from a 5%-owned domestic corporation. What net amount of taxable income does Acme report because of these dividends?

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