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Find the amount of Edward foreign tax credit

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Reference no: EM132955320

Question - Edward has $40,000 of income from a country that imposes a 42-percent income tax and $30,000 of income from a country that imposes a 36 percent income tax. In addition to the foreign income, he has taxable income from US sources of $130,000 and a US tax liability, before credits, of $60,000. Find the amount of Edward's foreign tax credit?

Reference no: EM132955320

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