Multiple Choice
Austin Corporation, a U.S. corporation, received the following investment income during 2014: $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 2014?
A) $140,000
B) $110,000
C) $70,000
D) $60,000
Correct Answer:

Verified
Correct Answer:
Verified
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