Problem $13-29($Static$)[$LO $13-7,13-8]$

Jumper, Incorporated, which has a $21$ percent tax rate, owns $40$ percent of the stock of a CFC$.$ At the beginning of $2022,$ Jumper's

basis in its stock was $$660,000.$ The CFC$\text{'}$s $2022$ income was $$1$ million, $$800,000$ of which was subpart $F$ income. The CFC paid no

foreign income tax and distributed no dividends.

Required:

In $2023,$ the CFC$\text{'}$s income was $$600,000,$ none of which was subpart F income or GILTI, and it distributed a $$300,000$ dividend to its

shareholders $($ $$120,000$ to Jumper$).$ How much of this actual dividend is taxable to Jumper in $2023?$ Compute Jumper's basis in its

CFC stock at the beginning of $2024.$

Note: Consider intermediate values in dollars and not in millions. Enter your final answers also in dollars and not in millions of

dollars.