McGraw-Hill's Taxation of Individuals and Business Entities 3rd Edition by Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver

Exercise 39

Gameco, a U..corporation, operates gambling machines in the United States and abroad.Gameco conducts its operations in Europe through a Dutch B.. which is treated as a branch for U..tax purposes.Gameco also licenses game machines to an unrelated company in Japan.During the current year, Gameco paid the following foreign taxes, translated into U..dollars at the appropriate exchange rate: Identify Gameco's creditable foreign taxes.