Archie, a U.S.resident, receives $120,000 of foreign-source passive category income on which foreign taxes of $22,500 are withheld.His worldwide taxable income is $300,000 (before personal exemptions) .Archie's U.S.tax liability before FTC is $70,000.What is Archie's FTC?
A) $0.
B) $22,500.
C) $27,695.
D) $28,000.
E) None of the above.
Correct Answer:
Verified
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