Question: Exercise 17-24 (Algorithmic) (LO. 2) Crane and Loon corporations, two unrelated C corporations, have the following transactions for the current year. Crane Loon Gross income

Exercise 17-24 (Algorithmic) (LO. 2) Crane and Loon corporations, two unrelated

Exercise 17-24 (Algorithmic) (LO. 2) Crane and Loon corporations, two unrelated C corporations, have the following transactions for the current year. Crane Loon Gross income from operations $256,000 $409,600 358,400 Expenses from operations Dividends received from domestic corporations (15% ownership) 430,080 307,200 153,600 Click here to access the dividends received deduction table. a. Compute the dividends received deduction for Crane Corporation. b. Compute the dividends received deduction for Loon Corporation

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