QUESTION 39 Marjorie Corporation's "Total reasonable business needs for 2020 was $320,000. Marjorie Corporation's Accumulated Earnings And Profits (E&P) at the beginning of 2020 was $240,000 (including consideration for the Dividends listed below), Marjorie Corporation also had the following information for 2020 Taxable income - $350,000; Federal Income Tax - $119,000. Dividends Received (less than twenty percent (20%) owned domestic corporation) $100.000 Cash Dividends Paid in 2020 - $40.000. Dividends Paid January 31, 2021 - $20,000, Consent Dividends - $10,000, Excess Charitable Contributions - 516,000. Net Capital Loss Adjustment - $8,000. The Dividends Paid Deduction for purposes of the Accumulated Earnings Tax for Marjorie Corporation for the year of 2020 is $ 70,000 $100.000 OS 40.000 $ 60,000 QUESTION 39 Marjorie Corporation's "Total reasonable business needs for 2020 was $320,000. Marjorie Corporation's Accumulated Earnings And Profits (E&P) at the beginning of 2020 was $240,000 (including consideration for the Dividends listed below), Marjorie Corporation also had the following information for 2020 Taxable income - $350,000; Federal Income Tax - $119,000. Dividends Received (less than twenty percent (20%) owned domestic corporation) $100.000 Cash Dividends Paid in 2020 - $40.000. Dividends Paid January 31, 2021 - $20,000, Consent Dividends - $10,000, Excess Charitable Contributions - 516,000. Net Capital Loss Adjustment - $8,000. The Dividends Paid Deduction for purposes of the Accumulated Earnings Tax for Marjorie Corporation for the year of 2020 is $ 70,000 $100.000 OS 40.000 $ 60,000