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Exercise 12-17 (Algorithmic) (LO. 4) In 2022, Henri, a U.S. citizen and calendar year taxpayer, reports $33,400 of income from France, which imposes a
Exercise 12-17 (Algorithmic) (LO. 4) In 2022, Henri, a U.S. citizen and calendar year taxpayer, reports $33,400 of income from France, which imposes a 10% income tax, and $50,400 from Italy, which imposes a 40% tax. In addition, Henri reports taxable income of $94,000 from within the United States. Henri is married filing a joint return, and his U.S. tax before the foreign tax credit is $30,226. Do not round your intermediate computations. Round your final answer to the nearest dollar. Determine the amount of Henri's foreign tax credit.
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