Carlotta,Inc

question 5

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

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