Global Corporation,a U.S.multinational,began operations this year.Global had pretax U.S.source income and foreign source income as follows.Corporate tax rate schedule.
Global paid $25,000 income tax to Country X.What is Global's U.S.tax liability if it takes the foreign tax credit?
A) $247,000
B) $238,000
C) $222,000
D) $272,000
Correct Answer:
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