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Question 21 2 Points Elway Corp. owns 100% of the stock of Manning Corporation, Elway's wholly owned subsidiary, which paid Elway a dividend of $144,000.

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Question 21 2 Points Elway Corp. owns 100% of the stock of Manning Corporation, Elway's wholly owned subsidiary, which paid Elway a dividend of $144,000. Elway also had $771,000 of operating income and $777,000 of operating expenses. Elway's dividends received deduction amounts to $138.000. A True B False

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