During the year,Purple Corporation (a U.S.Corporation)has U.S.-source income of $1,800,000 and foreign income of $600,000.The foreign-source income generates foreign income taxes of $150,000.The U.S.income tax before the foreign tax credit is $816,000.Purple Corporation's foreign tax credit is:

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The overall limitation is [($600,000/$2,400,000)× $816,000],or $204,000.However,the foreign tax credit cannot exceed the amount of foreign income taxes paid ($150,000).

During the Year,Purple Corporation (A U