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Jackson Inc. has the following taxable income: U.S. source income Foreign source income Taxable income $ 19,000,000 2,890,000 $ 21,890,000 Jackson paid $1,060,000 foreign income
Jackson Inc. has the following taxable income: U.S. source income Foreign source income Taxable income $ 19,000,000 2,890,000 $ 21,890,000 Jackson paid $1,060,000 foreign income tax. Compute its U.S. income tax, assuming the foreign source income does not qualify as FDII. (Do not round any intermediate division. Round the rest of the intermediate calculations and final answer to the nearest whole dollar amount.) U.S. income tax
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