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The Boo-Ball Corporation receives dividend income of $200,000 from Flew-Ball, a domestic corporation. Boo-Ball owns 70 percent of Flew-Ball. Boo-Balls net income from operations is
The Boo-Ball Corporation receives dividend income of $200,000 from Flew-Ball, a domestic corporation. Boo-Ball owns 70 percent of Flew-Ball. Boo-Balls net income from operations is $50,000. What is Boo-Balls dividends-received deduction?
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