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Exercise 17-24 (Algorithmic) (LO. 2) Crane and Loon corporations, two unrelated C corporations, have the following transactions for the current year. Crane Loon Gross income

Exercise 17-24 (Algorithmic) (LO. 2) Crane and Loon corporations, two unrelated C corporations, have the following transactions for the current year. Crane Loon Gross income from operations $258,500 $413,600 Expenses from operations 361,900 434,280 Dividends received from domestic corporations (15% ownership) 155,100 310,200 Click here to access the dividends received deduction table. a. Compute the dividends received deduction for Crane Corporation. $fill in the blank 1 b. Compute the dividends received deduction for Loon Corporation. $fill in the blank 2

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