EXHIBIT 16-6 Stock Ownership and Dividends Received Deduction Percentage Receiving Corporation's Stock Ownership in Distributing Corporation's Stock Less than 20 percent Dividends Received Deduction Percentage 50% 65 * 80 percent or more 100 At least 20 percent but less than 80 percent *To qualify for the 100 percent dividends received, the receiving and distributing corporations must be in the same affiliated group as described in $1504. The 80 percent ownership requirement is the minimum ownership level required for inclusion in the same affiliated group. ! Required information [The following information applies to the questions displayed below.] Riverbend Inc. received a $332,500 dividend from stock it held in Hobble Corporation. Riverbend's taxable income is $2,260,000 before deducting the dividends received deduction (DRD), a $81,000 NOL carryover, and a $128,000 charitable contribution. Use Exhibit 16-6. (Round your tax rates to 1 decimal place. Leave no answer blank. Enter zero if applicable.) c. What is Riverbend's DRD assuming it owns 50 percent of Hobble Corporation? DRD