During the year,Green Corporation (a U.S.corporation) has U.S.-source income of $750,000 and foreign income of $500,000.The foreign-source income generates foreign income taxes of $240,000.The U.S.income tax before the foreign tax credit is $425,000.Green Corporation's foreign tax credit is:
A) $170,000.
B) $240,000.
C) $425,000.
D) $500,000.
E) None of these.
Correct Answer:
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