History,Inc. ,a domestic corporation,owns 60% of the stock of Past,Inc. ,a foreign corporation.For the current year,History receives a dividend of $50,000 from Past.Past's post-'86 E & P (after taxes)and foreign taxes are $4,000,000 and $300,000,respectively.What is History's total gross income from receipt of this dividend if it elects to claim the FTC for deemed-paid foreign taxes?

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The Answer of History,Inc. ,a domestic corporation,owns 60% of the stock of Past,Inc. ,a foreign corporation.For the current year,History receives a dividend of $50,000 from Past.Past's post-'86 E & P (after taxes)and foreign taxes are $4,000,000 and $300,000,respectively.What is History's total gross income from receipt of this dividend if it elects to claim the FTC for deemed-paid foreign taxes?