GlobalCo, a Foreign Corporation Not Engaged in a U

question 26

Multiple Choice

GlobalCo, a foreign corporation not engaged in a U.S. trade or business, receives $80,000 in interest income from deposits with the foreign branch of a U.S. bank. The U.S. bank earns 24% of its income from foreign sources. How much of GlobalCo's interest income is U.S. source?

• A) $0
• B) $19,200
• C) $60,800
• D) $80,000

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Definitions:

Physical Features

The characteristics of an object or organism's body, such as shape, size, and color, visible and measurable.

Mutation

a change in the DNA sequence within an organism's gene or chromosome, leading to the creation of a new trait not found in the parental type.

DNA Replication

DNA replication is the biological process of producing two identical replicas of DNA from one original DNA molecule, a critical step before cell division.

Genetic Diversity

The total number of genetic characteristics in the genetic makeup of a species, enabling it to adapt to changing environments.