This year, Napa Corporation received the following dividends. KLP Inc. (a taxable Delaware corporation in...
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Accounting
This year, Napa Corporation received the following dividends. KLP Inc. (a taxable Delaware corporation in which Napa holds an 8% stock interest) $ 66,000 Gamma Inc. (a taxable Florida corporation in which Napa holds a 90% stock interest) 131,000 Napa and Gamma do not file a consolidated tax return.
Compute Napas dividends-received deduction.
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