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Brady Corporation of Cleveland, Ohio, is a multi-national conglomerate. In 2004, Brady...

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Accounting

Brady Corporation of Cleveland, Ohio, is a multi-national conglomerate. In 2004, Brady established and owned 100% of the stock of Toms, Inc., of Dayton, Ohio. Toms was established for the purpose of manufacturing rubber gaskets, which Brady uses in many of its international operations. By the beginning of 2022, Brady had sold 30% of the outstanding Toms stock. In July of 2022, Toms declares a dividend and pays $100,000 to Brady Corporation. In 2022, Brady Corporation, subject to certain limits, takes what amount as a dividends-received deduction?
A.
$0
B.
$50,000
C.
$65,000
D.
$100,000

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