Falcon Networks Is a Leading Semiconductor Company with Operations in 17

Multiple Choice

Falcon Networks is a leading semiconductor company with operations in 17 different countries. Information about the company's taxes appears below:
$\text {Falcon Not works}$
$\text {Components of Income Tax Expense}$
$\text {(in millions) }$


$\begin{array}{llcc} \text { } &2012&2011 \\ \text { Current - Federal } &\$55.65&\$47.52\\ \text {\quad\quad - Foreign } &83.85&78.95\\ \text { \quad\quad - State and Local} &\underline{14.69}&\underline{12.5}\\ \text {Total Current } &\$154.19&\$138.97\\\\ \text {Deferred - Federal } &\$30.28&\$42.90\\ \text { \quad\quad - Foreign} &\underline{23.89}&\underline{14.58} \\ \text {Total Deferred } &\$54.17&\$57.48\\\\ \text { Total Income Tax Expense } &\underline{\$208.36}&\underline{\$196.45}\\\\ \text { Note: Falcon Networks has no curent liability at year-end withrespect to total current taxes. } &\\\\ \text { Components of Income before Taxes } &2012&2011\\ \text { United States } &\$256.35&\$253.68\\ \text {Foreign } &\underline{236.85}&\underline{198.85}\\ \text {Total } &\underline{\$493.20}&\underline{\$452.53}\\\end{array}$
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Using the information provided by Falcon Networks determine the foreign effective tax rate for 2012.

A) 33.52%
B) 35.00%
C) 42.25%
D) 45.49%