1. In 2021 Rocker Corporation owns 45.99% percent of K9 Fence Inc. stock. K9 Fence, Inc. distributed a $15,000 dividend to Rocker Corporation. What is the amount of Rocker Corporations dividends received deduction on the dividend it received from K9 Fence Inc?

   		a) $9,750
   		b) $7,500
   		c) $4,599
   		d) $6,500

2. For tax year 2021, MHM Inc. reports revenues of $1,000,000. MHM Inc. reports $345,000 in ordinary and necessary business expenses (including $45,000 of depreciation). Tax depreciation was computed to be $55,000. What is LNS Corporations taxable income for 2021?

		$645,000
		$655,000
		$600,000
		$665,000