Watch Corporation has U.S. source income for the current year of $2 million, foreign source income from Country X of $3 million, and foreign source income from Country Y of $1 million, for total taxable income of $6 million. Watch paid $900,000 of income tax to Country X and $480,000 of income tax to Country Y. Compute Watch’s U.S. income tax, assuming the foreign source income does not qualify as FDII.