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EXHIBIT 3.2 Dividends Received Deduction Percentage of Ownership by Corporate Shareholder Deduction Percentage Less than 20% 50% 20% or more (but less than 80%) 65% 80% or more* 100% "The payor corporation must be a member of an affiliated group with the recipient corporation.Crane and Loon Corporations, two unrelated C corporations, have the following transactions for the current year. Crane Loon Gross income from operations $241,000 $385,600 Expenses from operations 337,400 404,880 Dividends received from domestic corporations (15% ownership) 144,600 289,200 Click here to access the dividends received deduction table. a. Compute the dividends received deduction for Crane Corporation. b. Compute the dividends received deduction for Loon Corporation