Question: Exercise 4-1 (Algorithmic) (LO. 3) Champ received a $14,400 distribution from NeatCo, a U.S. C corporation. NeatCo's earnings and profits for the year totaled

Exercise 4-1 (Algorithmic) (LO. 3) Champ received a $14,400 distribution from NeatCo,

Exercise 4-1 (Algorithmic) (LO. 3) Champ received a $14,400 distribution from NeatCo, a U.S. C corporation. NeatCo's earnings and profits for the year totaled $8,640. How much dividend income does Champ recognize?

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