Determine the dividends received deduction for each of the following independent situations. Assume that the percentage of stock owned in the corporation paying the dividend is 30% for Green Corporation and less than 20% for Red Corporation and Blue Corporation.

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Green Corporation Red Corporation Blue Corporation Income from operations $8,000,000 $3,000,000 2,700,000 600,000 $4,500,000 4,800,000 Expenses of operations Qualified dividends received 8,400,000 2,000,000 150,000