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Copper Corporation, a calendar year corporation, owns stock in Bronze Corporation and has net operating income of $900,000 for the current year, Bronze Corporation pays
Copper Corporation, a calendar year corporation, owns stock in Bronze Corporation and has net operating income of $900,000 for the current year, Bronze Corporation pays Copper a dividend of $150,000. What amount of dividends received deduction may Copper claim if it owns 85% of Bronze stock (and the two corporations are members of the same affiliated group) (Astume Copper's dividends received deduction is not limited by its taxable income.) a. $120,000 65150,000 c575.000 d. 597,500 De None of these choices are correct. 32
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