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In the current year, Parvifolia, Inc. had $400,000 of revenue from operations and $160,000 of dividends...

In the current year, Parvifolia, Inc. had $400,000 of revenue from operations and $160,000 of dividends from nonaffiliated 15-percent-owned domestic corporations. The corporation's deductible operating expenses totaled $410,000. What is Parvifolia, Inc.'s dividends received deduction for the current year?

a.

None of these
b.

$75,000
c.

$120,000
d.

80,000
e.

$160,000
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Answer #1
Answer is a. beacuase
$400000 revenue from operation
+ add: $160000 dividends from non affiliated domestic operation 15% of $10,66,667
total $560000 total fund
- less: $410000 operating expense
total $150000 total deduction for the current year
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