Fleming Corporation,a U.S.multinational,has pretax U.S.source income and foreign source income as follows: Fleming paid $50,000 income tax to Country A.If Fleming takes the foreign tax credit,compute its worldwide tax burden as a percentage of its pretax income.

Question

Fleming Corporation,a U.S.multinational,has pretax U.S.source income and foreign source income as follows:  Fleming paid $50,000 income tax to Country A.If Fleming takes the foreign tax credit,compute its worldwide tax burden as a percentage of its pretax income.

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The Answer of Fleming Corporation,a U.S.multinational,has pretax U.S.source income and foreign source income as follows:  Fleming paid $50,000 income tax to Country A.If Fleming takes the foreign tax credit,compute its worldwide tax burden as a percentage of its pretax income.