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Jazz Corporation owns 50% of the Williams Corp. stock. Williams distributed a $11,000 dividend to...

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Accounting

Jazz Corporation owns 50% of the Williams Corp. stock. Williams distributed a $11,000 dividend to Jazz Corporation. Jazz Corp.'s taxable income before the dividend was $100,100. What is the amount of Jazz's dividends received deduction on the dividend it received from Williams Corp.? a. $0 b. $7,700 c. $8,800 d. $11,000

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