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Mountain Company owns 14% of Valley Company. Both are domestic corporations. Valley pays a $85,000 dividend to Mountain. What amount of dividend income will be

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Mountain Company owns 14% of Valley Company. Both are domestic corporations. Valley pays a $85,000 dividend to Mountain. What amount of dividend income will be included in the taxable income of Mountain Company? Multiple Choice $36,500. $42,500. $60,500

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