Martha and Lew are married taxpayers with $2,400 of foreign tax withholding from dividends in a mutual fund. They have enough foreign income from the mutual fund to claim the full $2,400 as a foreign tax credit. Their tax bracket is 28 percent and they itemize deductions.

Should they claim the foreign tax credit or a deduction for foreign taxes on their Schedule A?

If required, round your answer to the nearest dollar.

The foreign tax deduction will result in a $_________ tax benefit where as claiming the foreign tax credit yields a $________ tax benefit. Therefore, the taxpayers should _________________

claim the foreign tax credit or deduct the foreign taxes.