Enders, Inc., a domestic corporation that invests in foreign securities, reports total taxable income for the tax year of $290,000, consisting of $208,800 in U.S.-source business profits and $81,200 of income from foreign sources. Foreign taxes of $24,000 were withheld by foreign tax authorities. Enders’s U.S. tax before the FTC is $78,000.

a. Compute Enders’s FTC for the tax year.

b. Express your answer as an Excel formula.