Question: 3. What is the dividends received deduction (DRD) in each of the following independent cases? Taxable income before DRD is $50,000. Dividend from a 30%-owned

3. What is the dividends received deduction (DRD) in each of the following independent cases?

  1. Taxable income before DRD is $50,000. Dividend from a 30%-owned domestic corporation is $5,000.
  2. Taxable income before DRD is $300,000. Dividend from a 10%-owned domestic corporation is $75,000.
  3. Taxable income before DRD is $80,000. Dividend from a 60%-owned domestic corporation is $90,000.

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