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Can i grt help please Waco Leather Incorporated, a U.S. corporation, reported total taxable income of $5.3 million. Taxable income included $1.2 million of foreign

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Waco Leather Incorporated, a U.S. corporation, reported total taxable income of $5.3 million. Taxable income included $1.2 million of foreign source taxable income from the company's branch operations in Mexico. All of the branch income is foreign branch income. Waco pald Mexican income taxes of $228,000 on its branch income. Compute Waco's allowable foreign tax credit. Note: Enter your answer in dollars and not in millions of dollars

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