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Author Question: Bonjour Corp. is a U.S.-based corporation with operations in France. The operations in France ... (Read 110 times)

yoroshambo

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Bonjour Corp. is a U.S.-based corporation with operations in France. The operations in France generated $200,000 of taxable income whereas worldwide operations generated total taxable income of $2,000,000. Its U.S. tax liability before credits is $680,000. Determine the allowable foreign tax credit assuming taxes paid to France as follows:
a.   $40,000.
b.   $80,000.


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Marked as best answer by yoroshambo on Sep 13, 2020

pami445

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yoroshambo

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Reply 2 on: Sep 13, 2020
Excellent


parker125

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

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