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What USAcos foreign tax credit limitation is

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Problem 1: USAco, a domestic corporation, is subject to U.S. tax at a flat rate of 35%. USAco earns $100,000 of U.S.-source income and $100,000 of foreign-source income. USAco's foreign tax credit limitation is:

option (a) $35,000.

option (b) $17,500.

option (c) $100,000.

option (d) $70,000.

Reference no: EM132476536

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