Cablephones Inc., which is not a member of an affiliated group, had $390,000 gross income from
Cablephones Inc., which is not a member of an affiliated group, had $390,000 gross income from
Chapter15: Choice Of Business Entity—other Considerations
Section: Chapter Questions
Problem 80P
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Transcribed Image Text:Cablephones Inc., which is not a
member of an affiliated group,
had $390,000 gross income from
operations, $475,000 deductible
expenses, and $300,000
dividends (received from more
than 20 percent owned U.S.
corporations). a. What is the
dividends-received deduction? b.
What would the dividends-
received deduction be if the
deductible expenses were
$500,000?
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