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

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

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

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