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Use the following information to answer the question(s) below.
Incorporated Tool,a U.S.firm,is considering its international tax situation.The corporate tax rate in the United States is currently 21%.Incorporated Tool has major operations in Ireland,where the tax rate is 12.5%,Japan where the tax rate is 40.7%,and Mexico,where the tax rate is 30.0%.Incorporated Tool's profits,which are fully and immediately repatriated,and foreign taxes paid for the current year are as follows:
-Assuming that the Irish and Mexican subsidiaries did not exist,the U.S.tax liability on the Japanese subsidiary would be closest to:
United States
A country located in North America, known for its influential economy, diverse culture, and democratic government system.
Advertising
Advertising is the act of promoting products, services, or brands through different media to increase awareness, interest, and sales.
Children
Young human beings below the age of puberty or below the legal age of majority.
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