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Coffin Corporation (A Domestic Corporation)has $200,000 of U

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Coffin Corporation (a domestic corporation) has $200,000 of U.S.source taxable income and $600,000 of foreign source taxable income from operations in Latvia.Latvia levied $67,000 in taxes on the foreign source income.U.S.taxes before credits are $280,000.The foreign tax credit limitation is


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