riverbend inc. received a $367500 dividend from stockit held in Hobble corporation. riverbends taxable...

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Accounting

riverbend inc. received a $367500 dividend from stockit held in Hobble corporation. riverbends taxable income is$2450000 before deducting the dividends received deduction, a$60500 NOL carryover, and a $138,000 charitable contribution.
a. what is riverend's deductible drd assuming it owns 10 percent?answer 183750
b. assuming the facts in part a what is riverbends marginal taxrate on the dividend?

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4.3 Ratings (521 Votes)

a As you have already mentioned the answer as 183750 which is the half of 367500 dividend from stock for questiona So im assuming that the DRD percentage is 50 Otherwise we need Dividends Received See Answer

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In: Accountingriverbend inc. received a $367500 dividend from stockit held in Hobble corporation. riverbends taxable income...riverbend inc. received a $367500 dividend from stockit held in Hobble corporation. riverbends taxable income is$2450000 before deducting the dividends received deduction, a$60500 NOL carryover, and a $138,000 charitable contribution.a. what is riverend's deductible drd assuming it owns 10 percent?answer 183750b. assuming the facts in part a what is riverbends marginal taxrate on the dividend?