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Accounting

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Required information [The following information applies to the questions displayed below] Riverbend Incorporated received a $397.500 dividend from stock it held in Hobble Corporation. Riverbend's taxable Income is $2,270,000 before deducting the dividends received deduction (DRD), a $73,000 NOL carryover, and a $156,000 charitable contribution. Use Exhibit 16-6. (Round your tax rates to 1 decimal place. Leave no answer blank. Enter zero if applicable.) a. What is Riverbend's deductible DRD assuming it owns 10 percent of Hobble Corporation? Answer is complete but not entirely correct. $ 2.000.000 DRD

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