Johnny, Inc. had dividend income in 2021 of $1,000,000, comprised of dividends from the following companies:

Neon Corp 600,000

Booker, Inc. 300,000

Portfolio Companies 100,000

Johnny owns 85% of the outstanding stock of Neon, 25% of the stock of Booker and less than 5% of a variety of companies that it holds in its portfolio. What is Johnny's dividends received deduction?