A company has 100000 of us source taxable income and 300000

Reference no: EM13610252

A company has $100,000 of U.S. source taxable income and $300,000 of foreign source taxable income from countries X and Y for a total worldwide taxable income of $400,000. Countries X and Y levy a total of $60,000 in foreign taxes upon the foreign source taxable income. U.S. taxes before credits are $140,000. The foreign tax credit limitation is ?explain please

Reference no: EM13610252

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