(a) Aero Line Corporation, a U.S. based company, established an operation in Malaysia on 1 January 2018 when the exchange rate was $4.20 per Malaysian Ringgit (RM). During 2019, the Malaysian branch generated RM6,000,000 of pretax income. On 15th October 2018, RM3,000,000 was repatriate to Aero Line and converted into US dollars. Assume the effective income tax rate in Malaysia was 24% and taxes were paid in Malaysia on 31 December 2018. Assume that US tax rate was 35%. [Syarikat Aero Line, sebuah syarikat di Amerika Syarikat memulakan operasi di Malaysia pada 1hb Januari 2018 dengan kadar pertukaran RM4.20 per Ringgit Malaysia Semasa tahun 2018, cawangan di Malaysia telah menjana pendapatan belum capai sebanyak RM6,000,000. Pada 15hb Oktober 2018 RM3,000,000 telah dipulangkan kepada Aeroline dan ditukarkan kepada dollar Amerika Andaikan cukai pendapatan efektif di Malaysia ialah 24% dan cukai telah dibayar di Malaysia pada 31 Disember 2018. kadar Syarikat 35%] Andaikan cukai Amerika adalah Relevant exchange rate for the year 2018 were provided as Table 2 below (US$ per RM) [Kadar pertukaran relevan bagi tahun 2018 disediakan seperti Jadual dibawah (US$ per RM):] Table 2: Exchange Rates [Jadual 2 Kadar Tukaran] 2018 US$ per RM 1 January 4.20 Average 4.00 15th October 3.90 31 December 4.19 Assume that the Aero Line operation branch in Malaysia is registered with the Malaysian Government. [Andaikan operasi cawangan Aero Line di Malaysia didaftarkan dengan Kerajaan Malaysia] (a) Calculate the amount of U.S taxable income (in US dollars). [Hitungkan jumlah pendapatan boleh cukai (dalam US dollars).] SULIT 5 (b) Determine the foreign tax credit (in US dollars) [Tentukan kredit cukai asing iuar (dalam US dollars)] (c) (9 Marks/ Markah) SULIT (BFT201) (8 Marks Marsah) Determine the net US tax liability related to Malaysian branch (in US dollars) [Tentukan liability cukat US bersih yang berkanan dengan cawangan di Malaysia (dalam US dollars (S Mark Markah)