Fisafolia Corporation has gross income from operations of $220,000 and operating expenses of $160,000 for the current year. The corporation also has $20,000 in dividends from publicly traded domestic corporations (ownership in all corporations was less than 20 percent).

a. Calculate the corporation’s dividends received deduction for the current year.
b. Assume that instead of $220,000, Fisafolia Corporation has gross income from operations of $135,000. Calculate the corporation’s dividends received deduction for the current year.