Eagle Corporation owns 2% of the stock in Hawk Corp, a U.S. corporation. Eagle has gross income from operations for the current year of $1,000 and deductible operating expenses of $300. In addition to the gross income from operations Eagle has $200 of dividends received from Hawk Corps, during the year. Hawk is a U.S. corporation.

a. How much of the dividend from Hawk must Eagle include in income for the year?

b. What is the amount of Eagle's dividends received deduction for the year?

c. Assume instead that Eagle's deductible operating expenses are $1,050 and all other information is the same. What is Eagle's dividends received deduction?

d. Assume as a separate third alternative that the facts are as originally stated except that Eagle's operating expenses are $1,150. What is the dividends received deduction?