Use the Following Information to Answer the Question(s)below

question 4

Multiple Choice

Use the following information to answer the question(s) below.
Incorporated Tool,a U.S.firm,is considering its international tax situation.The corporate tax rate in the United States is currently 21%.Incorporated Tool has major operations in Ireland,where the tax rate is 12.5%,Japan where the tax rate is 40.7%,and Mexico,where the tax rate is 30.0%.Incorporated Tool's profits,which are fully and immediately repatriated,and foreign taxes paid for the current year are as follows:
-Assuming that the Irish and Mexican subsidiaries did not exist,the U.S.tax liability on the Japanese subsidiary would be closest to:

• A)$0.
• B)$81 million.
• C)$103 million.
• D)$106 million.

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Definitions:

Manufacturing Plant

A facility where raw materials are transformed into finished products through various processes and machinery.

Repair Process

The systematic steps or actions taken to restore a damaged or malfunctioning product, equipment, or system to its operational condition.

Manufacturing Plant

A facility where raw materials are transformed into finished products through a series of controlled processes and operations.

Repair Process

A series of actions taken to fix or restore a broken or damaged item to a condition where it can perform its intended function again.