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Assume that USCO also had $1 Million of Country Y active foreign source income which incurs a 12% Country Y tax rate. USCO: Group of

Assume that USCO also had $1 Million of Country Y active foreign source income which incurs a 12% Country Y tax rate. USCO: Group of answer choices Will have a foreign tax credit of $420,000. Will owe the U.S. $90,000. Will be entitled to a refund from the U.S. of $90,000. Will be entitled to a refund from Country X of $90,000?

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