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In this paper, we investigate power and channel allocation for cooperative relay in a three-node cognitive radio network. Different from conventional cooperative relay channels, cognitive radio relay channels can be divided into three categories: direct, dual-hop, and relay channels, which provide three types of parallel end-to-end transmission. In the context, those spectrum bands available at all three nodes may either perform relay diversity transmission or assist the transmission in direct or dual-hop channels. On the other hand, the relay node involves both dual-hop and relay diversity transmission. In this paper, we develop power and channel allocation approaches for cooperative relay in cognitive radio networks that can significantly improve the overall end-to-end throughput. We further develop a low complexity approach that can obtain most of the benefits from power and channel allocation with minor performance loss.