Thunder, Inc Calculate Thunder's Dividends-Received Deduction and Taxable Income:
A) DRD, $203,300;

question 84

Multiple Choice

Thunder, Inc. has invested in the stock of several corporations and has $500,000 operating income before dividends. $$\begin{array} { | l | r | c | l | } \hline{ \text { Corporation } } & \text { Dividend } & \text { Ownership } \% & { \text { Incorporated } } \\\hline \text { Hail, Inc. } & \$ 52,000 & 14 & \text { Delaware } \\\hline \text { Hurricane Company } & 17,500 & 62 & \text { France } \\\hline \text { Lightening, Inc. } & 2,800 & 41 & \text { Utah } \\\hline \text { Tornado Corporation } & 131,000 & 92 & \text { New Jersey } \\\hline\end{array}$$ Calculate Thunder's dividends-received deduction and taxable income:

• A) DRD, $203,300; taxable income, $296,700
• B) DRD, $169,640; taxable income, $533,660
• C) DRD, $183,640; taxable income, $519,660
• D) DRD $169,640; taxable income, $330,360

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Definitions:

Eyewitness

A person who has personally seen something happen, such as a crime or an accident, and can provide a first-hand account of it.

Informational Interview

A conversation in which a person seeks insights on a career, industry, company, or professional path from someone with experience in that area.

Friendly Witness

A witness who is biased against your client’s adversary or sympathetic toward your client in a lawsuit or other legal proceeding. An adverse witness.

Subsequent Client Interview

A follow-up meeting with a client that takes place after the initial discussion or consultation.