Multiple Choice
Austin Corporation,a U.S.corporation,received the following investment income during 2017: $50,000 of dividend income from ownership of stock in a French corporation,$20,000 interest on a loan to its Dutch subsidiary,$40,000 royalty from its 50-percent owned Irish venture,and $30,000 capital gain from sale of its stock in a Brazilian corporation.How much foreign source income does Austin have in 2017?
A) $140,000.
B) $110,000.
C) $70,000.
D) $60,000.
Correct Answer:
Verified
Correct Answer:
Verified
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