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

question 46

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:
-Incorporated Tools' total U.S.tax liability on its foreign earnings is closest to:

• A)$0.
• B)$81 million.
• C)$106 million.
• D)$112 million.

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Definitions:

Chemotherapy

A type of cancer treatment using drugs to destroy cancer cells, often by stopping the cancer cells’ ability to grow and divide.

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Symptoms involving a queasy feeling and potential expulsion of stomach content, commonly due to illness or drug side effects.

Acupuncture

A traditional Chinese medicine technique that involves inserting thin needles through the skin at specific points on the body to alleviate pain or treat various health conditions.

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A form of Chinese martial arts practiced for both its defense training and its health benefits, involving slow, controlled movements.