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Enders, Inc., a domestic corporation that invests in foreign securities, reports total taxable income for the tax year of $497,500, consisting of $348,250 in U.S.-source
Enders, Inc., a domestic corporation that invests in foreign securities, reports total taxable income for the tax year of $497,500, consisting of $348,250 in U.S.-source business profits and $149,250 of Subpart F income from foreign sources. Income taxes of $44,775 were withheld by foreign tax authorities. Enders' U.S. tax before the FTC is $125,370. If required, round any division to two decimal places and round your final answer to the nearest dollar. a. Compute Enders's FTC for the tax year. b. Select your answer as an Excel formula. FTC=(MAX(0,(MIN(FTPAID (FORSOURCETI/WWTI*USTAXLIABBEFOREFTC)))))
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