Use the Information for the Question(s)below

question 17

Multiple Choice

Use the information for the question(s) below.
KT Enterprises, an Australian import-export trading company, is considering its international tax situation. KT's Australian tax rate is 30%. 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 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)$20.5 million
• B)$29.5 million
• C)$5.1 million
• D)$50.0 million

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Definitions:

Subordinates

Refers to employees or team members who are lower in hierarchical position or rank compared to their supervisors or managers.

Delegation

The assignment of authority and responsibility from one person to another to carry out specific activities while the former remains accountable for the outcome.

Competency

The ability to do something successfully or efficiently.

Policy-Making Councils

Groups or bodies that are responsible for the development and formulation of guidelines, rules, or regulations.