Use the Information for the Question(s)below

question 33

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 Irish operations is closest to:

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

---

Definitions:

Certified Applicator

An individual or entity recognized and authorized to apply certain products, often chemicals, according to regulatory standards.

FIFRA

The Federal Insecticide, Fungicide, and Rodenticide Act (FIFRA) governs the registration, distribution, sale, and use of pesticides in the United States.

TSCA

The Toxic Substances Control Act, a United States law passed by Congress in 1976 designed to regulate the introduction of new or already existing chemicals.

Premanufacturing Notice

A requirement under environmental law for manufacturers to notify a government agency before producing or importing new chemicals.