TABLE 14.1 Uses the Information to Answer the Following Question(s)

question 61

Multiple Choice

TABLE 14.1
Uses the information to answer the following question(s) .
MetroCity Designs Inc., located in Northern California, has two international subsidiaries, one located in the Ukraine, the other in Korea. Consider the information below to answer the next several questions.

-Refer to Table 14.1. The additional U.S. taxes due on the repatriation of income from the Ukraine to the United States, alone, assuming a 50% payout rate, is

• A) excess foreign tax credits of $110,000.
• B) additional U.S. taxes due of $97,000.
• C) additional U.S. taxes due of $36,500.
• D) excess foreign tax credits of $18,500.

---

Definitions:

Price

The financial sum expected, necessary, or handed over in exchange for something.

Monthly Income

The total amount of money received by an individual or household within a month from all sources.

Hot Dog

A cooked sausage, traditionally grilled or steamed and served in a sliced bun.

Price

The price expected, obligatory, or delivered in payment for a particular thing.