9. For the current year, Exeter Corporation has U. S. taxable income of $500,000, which includes $100,000 from a foreign division. Exeter paid $45,000 of foreign income taxes on the income of the foreign division. Exeter's U. S. income tax for the current year is $105,000. Its foreign tax credit is a. $45,000 b. $20,000 c. $21,000 d. $34,000