Griffin Corporation received $64,000 of dividend income from Eagle, Inc. Griffin owns 5 percent of the outstanding stock of Eagle. Griffins marginal tax rate is 21 percent.

1. Calculate Griffins allowable dividends-received deduction and its after-tax cash flow as a result of the dividend from Eagle.
2. How would your answers to a change if Griffin owned 55 percent of the stock of Eagle?
3. How would your answers to b change if Griffin owned 85 percent of the stock of Eagle?