Axtell Corporation has the following taxable income:
U.S. source income ………………$1,620,000
Foreign source income:
Country A ………………………. 550,000
Country B ……………………….. 2,000,000
Country C ………………………. 2,900,000
Taxable income …………………..$7,070,000
Axtell paid $600,000 income tax to Country B and $1.3 million income tax to Country C. Country A does not have a corporate income tax. Compute Axtell’s U.S. income tax.