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Jazz Corporation owns 10 percent of the Williams Corp. stock. Williams distributed a $10,400 dividend to Jazz Corporation. Jazz Corp.'s taxable income (loss) before the
Jazz Corporation owns 10 percent of the Williams Corp. stock. Williams distributed a $10,400 dividend to Jazz Corporation. Jazz Corp.'s taxable income (loss) before the dividend was ($7,400). What is the amount of Jazz's dividends received deduction on the dividend it received from Williams Corp.?
Multiple Choice
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$5,200.
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$3,000.
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$0.
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None of the choices are correct.
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$1,500.
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