Use the Information for the Question(s)below

question 28

Multiple Choice

Use the information for the question(s) below.
KT Enterprises,a U.S.import-export trading company,is considering its international tax situation.KT's U.S.tax rate is 21%.KT has significant operations in both Japan and Ireland.In Japan the current exchange rate is ¥118.4/$ and earnings in Japan are taxed at 41%.In Ireland the current exchange rate is $1.27/€ and earnings in Ireland are taxed at 12.5%.KT's profits,which are fully and immediately repatriated,and foreign taxes paid for the current year are shown here (in millions) :
-The amount of the taxes paid in dollars for the Japanese operations is closest to:

• A)$29.5 million.
• B)$5.1 million.
• C)$50.0 million.
• D)$20.5 million.

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Definitions:

Racial Profiling

The discriminatory practice by law enforcement officials of treating individuals as suspects based on their race, ethnicity, religion, or national origin rather than on any substantive evidence of criminal activity.

Criminal Justice Intervention

Actions taken by law enforcement and judicial systems to manage, prevent, and control crime and rehabilitate offenders, often through arrest, prosecution, and penal measures.

Serious Delinquency

Involvement in illegal activities by a minor that are considered severe by societal standards, often leading to significant legal consequences.

Aboriginals

Indigenous peoples who are the original inhabitants of a geographical region, possessing distinct cultural, linguistic, and historical traits.