EXHIBIT 17.2 Dividends Received Deduction Deduction Percentage Percentage of Ownership by Corporate Shareholder Less than 20% 20% or more (but less than 80%) 80% or more* 50% 65% 100% "The payor corporation must be a member of an affiliated group with the recipient corporation. eBook Calculator Print Item Exercise 17-24 (Algorithmic) (LO. 2) Crane and Loon corporations, two unrelated C corporations, have the following transactions for the current year. Crane Loon $251,000 $401,600 Gross income from operations Expenses from operations Dividends received from domestic corporations (15% ownership) 351,400 150,600 421,680 301,200 Click here to access the dividends received deduction table. a. Compute the dividends received deduction for Crane Corporation 6. Compute the dividends received deduction for Loon Corporation