Tony Pine Earned Foreign Interest Income of $7,000 in 2020

question 9

Multiple Choice

Tony Pine earned foreign interest income of $7,000 in 2020.15% tax was withheld by the foreign country.Toni's total taxable income for the year was $80,000, and the tax payable was calculated at $10,500.How much is Toni's foreign tax credit? (Rounded)

• A)$919
• B)$1,007
• C)$1,050
• D)$1,575

---

Definitions:

Animal Studies

Research studies conducted on animal subjects with the aim of understanding biological and psychological phenomena, which may inform human medicine, psychology, and other fields.

Brain Structures

The distinct regions and anatomical components of the brain, each responsible for different functions and aspects of neural activity.

Depression-like Symptoms

Manifestations similar to those of clinical depression, including persistent sadness, hopelessness, and a lack of interest or pleasure in activities.

Environmental Factors

Physical, chemical, and biological factors external to a person, and all the related factors impacting behaviors.