Fleming Corporation,a U.S.multinational,has pretax U.S.source income and foreign source income as follows.Corporate tax rate schedule.
Fleming paid $200,000 income tax to Country A.If Fleming takes the foreign tax credit,compute its worldwide tax burden as a percentage of its pretax income.
A) 34%
B) 35%
C) 36%
D) 44%
Correct Answer:
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