Multiple Choice 11-6 Special Deductions and Limitations (LO 11.3) Walnut Corporation owns 60 percent of Teak Corporation, a domestic corporation. During the current year, Walnut Corporation received $20,000 in dividends from Teak Corporation. Assuming that Walnut's taxable income for the current year before the dividends received deduction is $500,000, what is the amount of Walnut's dividends received deduction for the current year? Below is the dividends received deduction table to use for this problem. Percent Ownership Less than 20 percent 2018 Dividends Received Percentage 50% 20 percent or more, but less than 80 percent 65% 100% 80 percent or more a. $20,000 b. $10,000 XOC. $16,000 d. $13,000 Ce. None of these choices are correct