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Garcia Corporation (a calendar year, accrual basis C corporation) has the following income & expenses...

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Accounting

  1. Garcia Corporation (a calendar year, accrual basis C corporation) has the following income & expenses for 2022:

Gross receipts from US manufacturing operations 2,000,000

Operating Expenses 1,960,000

Dividends received from 20% owned domestic corp 400,000

Dividends received from 18% owned domestic corp 200,000

Net Operating Loss carryforward from last year 100,000

What is Garcia Corporations dividend-received deduction for 2022?

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