Palm Owns a 70% Interest in Sable,a Domestic Subsidiary

question 9

Multiple Choice

Palm owns a 70% interest in Sable,a domestic subsidiary.Sable is not part of Palm's affiliated group.Palm will pay taxes on

• A)none of the dividends it receives from Sable.
• B)20% of the dividends it receives from Sable.
• C)66% of the dividends it receives from Sable.
• D)80% of the dividends it receives from Sable.

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