Parent Corp, owns 40% of Sub Corp. In the current year, Parent has gross income of $43,000
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Parent Corp, owns 40% of Sub Corp. In the current year, Parent has gross income of $43,000 and allowable deductions of $30,000 before considering any dividends received deduction (DRD). Included in the $43,000 gross income is $8,000 of dividends from Sub. What is the maximum DRD available to Parent?
a. $4,000
b. $5,200
c. $8,000
d. $8,450
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Related Book For 
South-Western Federal Taxation 2019 Comprehensive
ISBN: 9781337703017
42th Edition
Authors: David M. Maloney, William A. Raabe, William H. Hoffman, James C. Young
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