Austin,Inc. ,a domestic corporation,generates U.S.-source and foreign-source gross income.Austin's assets (tax book value)are as follows.
Austin incurs interest expense of $180,000.Using the asset method and the tax book value,apportion interest expense to foreign-source income.

Question

Austin,Inc. ,a domestic corporation,generates U.S.-source and foreign-source gross income.Austin's assets (tax book value)are as follows.
  Austin incurs interest expense of $180,000.Using the asset method and the tax book value,apportion interest expense to foreign-source income.

Quizplus · Accepted Answer

The Answer of Austin,Inc. ,a domestic corporation,generates U.S.-source and foreign-source gross income.Austin's assets (tax book value)are as follows.
  Austin incurs interest expense of $180,000.Using the asset method and the tax book value,apportion interest expense to foreign-source income.