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During the current year, Coyote Corporation (a calendar year C corporation) has the following transactions:

Income from operations $260,000
Expenses from operations 285,000
Dividends received from Roadrunner Corporation 115,000

a. Coyote owns 5% of Roadrunner Corporation's stock. How much is Coyote Corporation's taxable income (loss) for the year?

b. Would your answer change if Coyote owned 25% of Roadrunner Corporation's stock?

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