Thunder, Inc. has invested in the stock of several corporations and has $500,000 current year operating income before considering dividends received, the DRD, and the charitable contribution...

Extracted text: Thunder, Inc. has invested in the stock of several corporations and has $500,000 current year operating income before considering dividends received, the DRD, and the charitable contribution deduction: Corporation Dividend Ownership % Incorporated Hail, Inc. $ 52,000 14 Delaware Hurricane Company 17,500 62 France Lightening, Inc. 2,800 41 Utah New Tornado Corporation 131,000 92 Jersey Further, Thunder, Inc. contributed 55,000 to HLT charity. Compute the (1) dividends-received deduction, (2) the charitable contributions deduction, and (3) Thunder's taxable income.