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can you answer please right Check my work Elmo Inc. is a U.S. corporation with a branch office in foreign country Z. During the current
can you answer please right
Check my work Elmo Inc. is a U.S. corporation with a branch office in foreign country Z. During the current year, Elmo had $352,000 of U.S. source income and $64,500 of foreign source income from Z, on which Elmo paid $30,100 of country Z income tax. a. Calculate Elmo's U.S. tax liability before foreign tax credit, maximum foreign tax credit allowable, and net U.S. tax liability after foreign tax credit. b. If Elmo had paid only $11180 of country Z income tax, calculate Elmo's foreign tax credit allowable and net U.S. tax liability after foreign tax credit. Complete this question by entering your answers in the tabs below Required A Required B Calculate Elmo's U.S. tax liability before foreign tax credit, maximum foreign tax credit allowable, and net U.S. tax liability after foreign tax credit.. Do not round nX.intermediate. division.. U.S. tax liability before foreign tax credit Maximum foreign tax credit allowable Net U.S. tax liability after foreign tax credit Required A Required B Check my work Elmo Inc. is a US. corporation with a branch office in foreign country Z. During the current year, Elmo had $352,000 of U.S. source income and $64,500 of foreign source income from Z, on which Elmo paid $30,100 of country Z income tax. a. Calculate Elmo's U.S. tax liability before foreign tax credit, maximum foreign tax credit allowable, and net U.S. tax liability after foreign tax credit. b. If Elmo had paid only $11,180 of country Z income tax, calculate Elmo's foreign tax credit allowable and net U.S. tax liability after foreign tax credit. Complete this question by entering your answers in the tabs below Required ARequired B If Elmo had paid only $11,180 of country Z income tax, calculate Elmo's foreign tax credit allowable and net u.S. tax liability after foreign tax credit. Foreign tax credit allowable U.S. tax liability after foreign tax credit Required A Required BStep by Step Solution
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