During the Year, Green Corporation (A U

question 46

Multiple Choice

During the year, Green Corporation (a U.S.corporation) has U.S.-source income of $750,000 and foreign income of $500,000.The foreign-source income generates foreign income taxes of $240,000.The U.S.income tax before the foreign tax credit is $425,000.Green Corporation's foreign tax credit is:

• A)$170,000.
• B)$240,000.
• C)$425,000.
• D)$500,000.
• E)None of the above.