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Fall Corporation owns 50% of Williams Corp. stock. Williams distributed a $40,000 dividend to Fall Corporation. Fall Corp.'s taxable income before the dividend was $400,000.
Fall Corporation owns 50% of Williams Corp. stock. Williams distributed a $40,000 dividend to Fall Corporation. Fall Corp.'s taxable income before the dividend was $400,000. What is the amount of Fall's dividend received deduction on the dividend it received from Williams Corp.? $20,000 $0 $26,000 $20,000
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