Select one: a. $0 b. $20,000 c. $40,000 d. $26,000

Sands Corporation has the following income and expense items for the year: Gross receipts from sales Dividends received from 15%-owned domestic corporation Expenses connected with sales $60,000 40,000 30,000 The dividends received deduction for Sands Corporation is: Select one: O O O O a. b. c. d. $0 $20,000 $40,000 $26,000