Use the Information for the Question(s)below

question 32

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) :
-After the Japanese taxes are paid,the amount of the earnings before interest and after taxes in dollars from 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:

Miranda Warnings

Statements that police must provide to a suspect in custody before interrogation, informing them of their rights to remain silent and to have an attorney.

In-Custody Questioning

A law enforcement procedure where individuals under arrest are questioned about a crime.

Police

The police are a body of officers representing the civil authority of government, responsible for maintaining public order and safety, enforcing the law, and preventing, detecting, and investigating criminal activities.

Miranda Rule

This rule requires police to inform suspects of their rights before questioning, including the right to remain silent and the right to an attorney.