Goolsbee, Inc., a U.S.corporation, generates U.S.-source and foreign-source gross income.Goolsbee's assets tax basis) are as follows. Goolsbee incurs interest expense of $200,000.Apportion interest expense to foreign-source income.

Question

Goolsbee, Inc., a U.S.corporation, generates U.S.-source and foreign-source gross income.Goolsbee's assets tax basis) are as follows.  Goolsbee incurs interest expense of $200,000.Apportion interest expense to foreign-source income.

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The Answer of Goolsbee, Inc., a U.S.corporation, generates U.S.-source and foreign-source gross income.Goolsbee's assets tax basis) are as follows.  Goolsbee incurs interest expense of $200,000.Apportion interest expense to foreign-source income.