Solvay Corporation owns 15 percent of Wooster Corporation. Wooster pays Solvay a $20,000 dividend. Wooster's taxable income, including the dividend but before the dividend received deduction, is $18,000. What is Solvay's income tax liability?

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The Answer of Solvay Corporation owns 15 percent of Wooster Corporation. Wooster pays Solvay a $20,000 dividend. Wooster's taxable income, including the dividend but before the dividend received deduction, is $18,000. What is Solvay's income tax liability?

Solvay Corporation Owns 15 Percent of Wooster Corporation