GlobalCo, a Foreign Corporation Not Engaged in a U

question 26

Multiple Choice

GlobalCo, a foreign corporation not engaged in a U.S. trade or business, receives $80,000 in interest income from deposits with the foreign branch of a U.S. bank. The U.S. bank earns 24% of its income from foreign sources. How much of GlobalCo's interest income is U.S. source?

• A) $0
• B) $19,200
• C) $60,800
• D) $80,000

---

Definitions:

Glycolysis

A metabolic pathway that breaks down glucose into pyruvate, generating ATP and NADH in the process.

ATPs

Short for adenosine triphosphate, a molecule that carries energy within cells, supporting various functions including muscle contraction and chemical synthesis.

Pyruvate

A key intermediate compound in cellular respiration and metabolism, generated from glucose through glycolysis.

ATP

Adenosine Triphosphate, a molecule that carries energy within cells, being the main energy currency of the cell for metabolic processes.