Multiple Choice
Carlotta,Inc. ,has $50,000 foreign-source income and $150,000 worldwide income.Its U.S.tax on its worldwide income is $42,000,and it paid foreign taxes of $12,000.What is the corporation's foreign tax credit?
A) $4,000
B) $12,000
C) $14,000
D) $42,000
Correct Answer:
Verified
Correct Answer:
Verified
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