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This year, Napa Corporation received the following dividends. KLP Inc. (a taxable Delaware corporation in which Napa holds an 8% stock interest) $ 72,000 Gamma
This year, Napa Corporation received the following dividends.
| KLP Inc. (a taxable Delaware corporation in which Napa holds an 8% stock interest) | $ | 72,000 |
| Gamma Inc. (a taxable Florida corporation in which Napa holds a 90% stock interest) | 137,000 | |
Napa and Gamma do not file a consolidated tax return. Compute Napas dividends-received deduction??
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Financial Accounting
Authors: Walter B. Meigs, A. N. Mosich, Robert F. Meigs
2nd Edition
0070412901, 978-0070412903
