In the current year, Parvifolia, Inc. had $400,000 of revenue from operations and $160,000 of dividends from
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Question:
In the current year, Parvifolia, Inc. had $400,000 of revenue from operations and $160,000 of dividends from non-affiliated 15 percent-owned domestic corporations. The corporation's deductible operating expenses totaled $410,000. What are Parvifolia, Inc.’s dividends received deduction for the current year?
a) $112,000
b) $105,000
c) $120,000
d) $128,000
e) None of these choices are correct.
Related Book For
Canadian Income Taxation planning and decision making
ISBN: 9781259094330
17th edition 2014-2015 version
Authors: Joan Kitunen, William Buckwold
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