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Chapeau Company, a U . S . corporation, operates through a branch in Champagnia. The source rules used by Champagnia are identical to those used
Chapeau Company, a US corporation, operates through a branch in Champagnia. The source rules used by Champagnia are identical to those used by the United States. For Chapeau has $ of gross income: $ from US sources and $ from sources within Champagnia. The $ of US source income and $ of the foreign source income are attributable to manufacturing activities in Champagnia foreign branch income The remaining $ of foreign source income is passive category interest income. Chapeau had $ of expenses other than taxes, all of which are allocated directly to manufacturing income $ of which is apportioned to foreign sources Chapeau paid $ of income taxes to Champagnia on its manufacturing income. The interest income was subject to a percent withholding tax of $ Compute Chapeaus total allowable foreign tax credit in Total foreign tax credit??
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