??A? U.S.-based MNC has a foreign subsidiary that earns $ 252000 before local? taxes, with all the? after-tax funds to be available to the parent in the form of dividends. The applicable taxes consist of a 33 % foreign income tax? rate, a foreign dividend withholding tax rate of 9.6 %?, and a U.S. tax rate of 30 %. Calculate the net funds available to the parent MNC? if:

a.??Foreign taxes can be applied as a credit against the? MNC's U.S. tax liability.

b.??No tax credits are allowed.