Bamboo corporation has the following income and expenses

Question

Question - Bamboo Corporation has the following income and expenses:

Gross income from operations $200,000

Expenses from operations (150,000)

Dividends received from a 15%-owned domestic corporation 100,000

Taxable income before the DRD 150,000

(a) What is Bamboo's dividends received deduction?

(b) How would your answer change if gross income from operations was $140,000 instead of $200,000?

(c) How would your answer change if gross income from operations was $110,000 instead of $200,000?