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In 2020, Canton Co.'s gross income from operations was $1,000,000 and its expenses from operations were $500,000. It also received a $200,000 dividend from an
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In 2020, Canton Co.'s gross income from operations was $1,000,000 and its expenses from operations were $500,000. It also received a $200,000 dividend from an 15%-owned corporation. What is Canton Co.'s dividends-received deduction?
a. $-0-
b. $100,000
c. $350,000
d. $200,000
In 2020, Canton Co.'s gross income from operations was $1,000,000 and its expenses from operations were $500,000. It also received a $200,000 dividend from an 15%-owned corporation. What is Canton Co.'s dividends-received deduction?
| a. | $-0- | |
| b. | $100,000 | |
| c. | $350,000 | |
| d. | $200,000 |
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