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Jazz Corporation owns 1 0 percent of the Mitchell Corporation stock. Mitchell distributed a $ 1 2 , 9 0 0 dividend to Jazz Corporation.

Jazz Corporation owns 10 percent of the Mitchell Corporation stock. Mitchell distributed a $12,900 dividend to Jazz Corporation. Jazz Corporation's taxable income (loss) before the dividend was ($8,000). What is the amount of Jazz's dividends received deduction on the dividend it received from Mitchell Corporation?

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