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Thunder, Inc. has invested in the stock of several corporations and has $500,000 operating income before dividends. Corporation Dividend Ownership % Incorporated Hail Inc. $52000

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Thunder, Inc. has invested in the stock of several corporations and has $500,000 operating income before dividends. Corporation Dividend Ownership % Incorporated Hail Inc. $52000 14 Delaware Hurricane Co. $7500 62 France Lightening Inc. $2800 41 Utah Tornado Corp. $131000 92 New Jersey Calculate Thunder's dividends-received deduction and taxable income: DRD. $183,640; taxable income, $519,660 DRD $169,640; taxable income, $330,360 O DRD, $152,920; taxable income, $347,080 O DRD. $152,920; taxable income, $544,480

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