Partin, Inc., a foreign subsidiary of Jones, Inc., a U.S. corporation, has pretax income of 200,000 euros

Question:

Partin, Inc., a foreign subsidiary of Jones, Inc., a U.S. corporation, has pretax income of 200,000 euros for 2014. Partin accrues 60,000 euros in foreign taxes on this income. The average for the tax year to which the taxes relate is 1.35€:$1. None of the income is Subpart F income. If the net earnings of 140,000 euros are distributed when the is 1.25€:$1, what are the deemed-paid taxes available to Jones? Assume that 2014 is Partin's first year of operation.
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