Blunt, Inc. a U.5. corporation, eamed $600,000 in total taxable income induding $80,000 in foreign-source taxable income from its German branch's manufacturing operations and $30,000 in foreign-source taxable income from its Swiss branch's engineering service operations. Blunt paid $20,000 in German income taxes and $1,800 in Swiss income taxes. Assume the U.S. tax rate is 21%. Compute Blunt's U.S. tax liability after any avallable FTCs. Feethack T. check Mr Work The United States retains the right to tax its citizens and residents on their total taxable income. This approach ran result in double taxation; presenting a potential problem to U.5. persons who work or invest abroad, To reduce the possibility of double taxation, Congress onacted the foreign tax credit (FTC). Under these provisions, a qualified taxpayer is allowed a tax credit for foreign income taxes paid