Business
Business, 20.11.2019 23:31, carbpotatoes

In the current year, red corporation (a calendar year c corporation), which owns stock in blue corporation, had net operating income of $200,000 for the year. blue pays red a dividend of $40,000. red takes a dividends received deduction of $20,000. which of the following statements is correct? a. red owns 80% of blue corporation. b. red owns 20% or more, but less than 80% of blue corporation. c. red owns 80% or more of blue corporation. d. red owns less than 20% of blue corporation. e. none of these choices are correct.

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