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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) - $55,000 Gamma

This year, Napa Corporation received the following dividends:

KLP Inc (a taxable Delaware corporation in which Napa holds an 8% stock interest) - $55,000

Gamma Inc (a taxable Florida corporation in which Napa holds a 90% stock interest) - $120,000

Napa and Gamma do not file a consolidated tax return. Compute Napa's dividends-received deduction. Please show complete calculation.

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