Austin,Inc.,a domestic corporation,generates U.S.-source and foreign-source gross income.Austin's assets (tax book value)are as follows.

Austin incurs interest expense of $180,000.Using the asset method and the tax book value,apportion interest expense to foreign-source income.

Question

Austin,Inc.,a domestic corporation,generates U.S.-source and foreign-source gross income.Austin's assets (tax book value)are as follows.
  
Austin incurs interest expense of $180,000.Using the asset method and the tax book value,apportion interest expense to foreign-source income.

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The Answer of Austin,Inc.,a domestic corporation,generates U.S.-source and foreign-source gross income.Austin's assets (tax book value)are as follows.
  
Austin incurs interest expense of $180,000.Using the asset method and the tax book value,apportion interest expense to foreign-source income.