Question: Exercise 3-27 (Algorithmic) (LO. 2) Crane and Loon Corporations, two unrelated C corporations, have the following transactions for the current year. Gross income from

Exercise 3-27 (Algorithmic) (LO. 2) Crane and Loon Corporations, two unrelated C

Exercise 3-27 (Algorithmic) (LO. 2) Crane and Loon Corporations, two unrelated C corporations, have the following transactions for the current year. Gross income from operations Expenses from operations Dividends received from domestic corporations (15% ownership) Click here to access the dividends received deduction table. a. Compute the dividends received deduction for Crane Corporation. 55,800 b. Compute the dividends received deduction for Loon Corporation. 0x Crane Loon $186,000 $297,600 260,400 312,480 111,600 223,200

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