A U.S.-based MNC has a foreign subsidiary that earns $248,000 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 a32% foreign income tax rate, a foreign dividend withholding tax rate of 9.8%, and a U.S. tax rate of 28%. 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.