Question - Crane and Loon Corporations, two unrelated C corporations, have the following transactions for 2015:
|
|
Crane
|
Loon
|
|
Gross income from operations
|
$273,500
|
$437,600
|
|
Expenses from operations
|
382,900
|
459,480
|
|
Dividends received from domestic corporations (15% ownership)
|
164,100
|
328,200
|
a. Compute the dividends received deduction for Crane Corporation.
b. Compute the dividends received deduction for Loon Corporation.