Exercise 12-7 (Algorithmic) (LO. 7) Crane and Loon Corporations, two unrelated C corporations, have the following transactions for the current year. Click here to access the dividends recelved deduction table. a. Compute the dividends received deduction for Crane Corporation. b. Compute the dividends received deduction for Loon Corporation. EXHIBIT 12.4 Dividends Received Deduction \begin{tabular}{lc} \hline Percentage of Ownership by Corporate Shareholder & Deduction Percentage \\ \hline Less than 20% & 50% \\ 20% or more (but less than 80% ) & 65% \\ 80% or more* & 100% \\ \hline \end{tabular} -The payor corporation must be a member of an affiliated group with the recipient corporation