Dexter Corporation Reports the Following Results for the Current Year

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The Answer is <sup>a </sup>The charitable contribution is limited to $4,000 [0.10 × ($65,000 - $25,000)].The dividends-received deduction is not limited by the 70% DRD limitation [($65,000 - $4,000)× 0.70 = $42,700].

<sup>a </sup>The charitable contribution is limited to $4,000 [0.10 × ($65,000 - $25,000)].The dividends-received deduction is not limited by the 70% DRD limitation [($65,000 - $4,000)× 0.70 = $42,700].

^aThe charitable contribution is limited to $4,000 [0.10 × ($65,000 - $25,000)].The dividends-received deduction is not limited by the 70% DRD limitation [($65,000 - $4,000)× 0.70 = $42,700].

Dexter Corporation Reports the Following Results for the Current Year

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