1 Waco Leatherine, a U.S. corporation, reported total taxable income of $5.75 million Taxable income included $135 million of foreign source taxable income from the company's branch operations in Mexico. All of the branch income is foreign branch income. Waco paid Mexican income taxes of $256,500 on its branch income Compute Waco's alowable foreign tax credit. (Enter your answer in dollars and not in millions of dollars.)