Richard has $30,000 of income from a country that imposes a 40 percent income tax and $30,000 of income from a country that imposes a 30 percent income tax.In addition to the foreign income,he has taxable income from U.S.sources of $120,000 and a U.S.tax liability,before credits,of $53,450.The amount of Richard's foreign tax credit is:

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The Answer of Richard has $30,000 of income from a country that imposes a 40 percent income tax and $30,000 of income from a country that imposes a 30 percent income tax.In addition to the foreign income,he has taxable income from U.S.sources of $120,000 and a U.S.tax liability,before credits,of $53,450.The amount of Richard's foreign tax credit is:

Richard Has $30,000 of Income from a Country That Imposes