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castillo66 castillo66
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7 years ago
Assume that U.S. MNE A earns $100,000 of foreign source income, that the tax rate in the foreign country is 40 percent, and that the tax rate in the United States is 35 percent. How much total (both domestic and foreign) tax would the company pay on that foreign source income, assuming that the tax credit principle applies?
A) $40,000
B) $35,000
C) $75,000
D) $5,000
Textbook 
International Business

International Business


Edition: 15th
Authors:
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vindalovindalo
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castillo66 Author
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#2
7 years ago
Exactly what I needed to answer this question

Thanks!
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