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Magnet Corporation has gross income from operations of $600,000, operating expenses of $540,000, and dividends received from Iron Corporation of $400,000, What amount of dividends

Magnet Corporation has gross income from operations of $600,000, operating expenses of $540,000, and dividends received from Iron Corporation of $400,000, What amount of dividends received deduction may Magnet claim if it owns 30% of Iron's stock?

a.$260,000

b.$299,000

c.$200,000

d.$0

e.$169,000

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