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Compute dunne us tax liability

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Question - Dunne, Inc., a U.S. corporation, earned $400000 in total taxable income, including $50000 in foreign-source taxable income from its branch manufacturing operations in Brazil and $20000 in foreign-source income from interest earned on bonds issued by Dutch corporations. Dunne paid $25000 in Brazilian income taxes and $3000 in Dutch income taxes. Compute Dunne's U.S. Tax liability after any available FTCs. Assume the U.S. tax rate is 34%.

Reference no: EM131820011

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