Required information

[The following information applies to the questions displayed below.] Riverbend Inc. received a $217,500 dividend from stock it held in Hobble Corporation. Riverbend's taxable income is $2,350,000 before deducting the dividends received deduction (DRD), a $80,500 NOL carryover, and a $103,000 charitable contribution. Use Exhibit 16-6. (Round your tax rates to 1 decimal place. Leave no answer blank. Enter zero if applicable.)

e. What is Riverbends DRD assuming it owns 95 percent of Hobble Corporation (and is part of the same affiliated group)?

EXHIBIT 16-6 Stock Ownership and Dividends Received Deduction Pe Dividends Rece Deduction Receiving Corporation's StockK Ownership in Distributing Corporation's Stock Percentage Less than 20 percent At least 20 percent but less than 80 percent 80 percent or more 50% 65 100 22