Copper Corporation Owns Stock in Bronze Corporation and Has Net

question 98

Multiple Choice

Copper Corporation owns stock in Bronze Corporation and has net operating income of $900,000 for the 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 (assuming Copper's dividends received deduction is not limited by its taxable income) ?

• A)$97,500
• B)$105,000
• C)$120,000
• D)$150,000
• E)None of the above

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