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Compute the Bryson Corp foreign tax credit allowed

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Question - During the year, Bryson Corp. (a U.S. Corporation) has U.S.-source income of $900,000 and foreign income of $400,000. The foreign-source income generates foreign income taxes of $110,000. The U.S. income tax before the foreign tax credit is $340,000. Compute the Bryson Corp's foreign tax credit allowed for the year?

a. $75,000

b. $104,615

c. $102,615

d. $110,000

e. None of the above

Reference no: EM132435811

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