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Jazz Corporation owns 10% of the Williams Corp. stock. Williams distributed a $26,000 dividend to...

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Accounting

Jazz Corporation owns 10% of the Williams Corp. stock. Williams distributed a $26,000 dividend to Jazz Corporation. Jazz Corp.'s taxable income (loss) before the dividend was ($3,600). What is the amount of Jazz's dividends received deduction on the dividend it received from Williams Corp.?

1- 11200

2- none of the choices are correct

3-13000

4- 0

5-19700

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