$66,000 of interest on the debt this year. Lime received a $60,000 cash dividend on...
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Accounting
$ of interest on the debt this year. Lime received a $ cash dividend on the Beer stock on September of the current year. Cheers has $ million of taxable income before any dividendsreceived deduction.
Read the requirements.
Requirement a What amount can Lime deduct for the interest paid on the loan?
Lim. the interest paid on the loan.
Requirement b What dividendsreceived deduction can Lime claim with respect to the dividend?
How much of the $ dividends received from Beer must Lime include in its income?
Dividendsreceived deduction for Lime
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