(Solved) 2012 Corporate Tax Rate Schedule (partial) Taxable Income Greater But Less Than Or Tax Is Of the amount Than Equal To exceeding \$0...

2012 Corporate Tax Rate Schedule (partial) Taxable Income Greater But Less Than Or Tax Is Of the amount Than Equal To exceeding \$0 \$50,000 15% \$0 \$50,000 \$75,000 \$7,500 + 25% \$50,000 \$75,000 \$100,000 \$13,750 + 34% \$75,000 \$100,000 \$335,000 \$22,250 + 39% \$100,000 J KEB Corporation has the following revenues and expenses for the current tax year: Sales revenue, net of returns ........................... Dividend Income (less than 20% owned investees) .......... Cost of sales ...................................... Normal business expenses ............................. \$100,000 25,000 30,000 40,000 1. What is JKEB Corporationâ€™s dividends-received deduction for the current tax year? 2. Assuming that JKEB Corporationâ€™s normal business expenses were \$82,000 instead of \$40,000, compute its dividends-received deduction for the current tax year.
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