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Riverbend Inc. received a $240,000 dividend from stock it held in Hobble Corporation. Riverbend's taxable income is $2,710,000 before deducting the dividends-received deduction (DRD), a
Riverbend Inc. received a $240,000 dividend from stock it held in Hobble Corporation. Riverbend's taxable income is $2,710,000 before deducting the dividends-received deduction (DRD), a $50,500 NOL carryover, and a $153,000 charitable contribution. Use Exhibit 16-6. (Round your tax rates to 1 decimal place. Leave no answer blank. Enter zero if applicable.) a. What is Riverbends deductible DRD assuming it owns 10 percent of Hobble Corporation
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