Fleming Corporation, a U.S. multinational, has pretax U.S. source income and foreign source income as follows. $\begin{array}{lr}
\text { U.S. source income } & \$ 1,000,000 \
\text { Foreign source income-Country A } & 500,000 \
\text { Total } & \$ 1,500,000
\end{array}$ Fleming paid $200,000 income tax to CountryA. 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. $\begin{array}{lr}
\text { U.S. source income } & \$ 1,000,000 \
\text { Foreign source income-Country A } & 500,000 \
\text { Total } & \$ 1,500,000
\end{array}$ Fleming paid $200,000 income tax to CountryA. If Fleming takes the foreign tax credit, compute its worldwide tax burden as a percentage of its pretax income.

Fleming Corporation, a U Fleming Paid $200,000 Income Tax to CountryA