Eiffel Corporation is a 100-percent owned French subsidiary of Tower Corporation, a U.S. corporation. During the current year, Eiffel paid a dividend of 500,000 to Tower. Assume an exchange rate of 1 = $1.50. Withholding taxes of 2,500 were imposed on the dividend. The dividend is paid out of earnings and profits that have not been subject to the deemed dividend rules under subpart For GILTI. Compute the tax consequences to Tower as a result of this dividend. Multiple Choice Taxable income of $750,000 and a foreign tax credit of $4,375 Taxable income of $750,000 and a foreign tax credit of $0 Taxable income of $0 and a foreign tax credit of $0 Taxable income of $0 and a foreign tax credit of $2,500