Midnight Motors is a US multinational firm. The manager of Midnight Motors is evaluating its international tax situation. In the US, Midnight Motors corporate tax rate is currently 26%. Midnight Motors has major operations in Argentina, Brazil, and China, and the tax rate is 13%, 41%, and 31%, respectively. Assume Midnight Motors' profits are fully and immediately repatriated. The foreign taxes paid for the current year are listed as follows:

	Argentina	Brazil	China
Earnings before interest and taxes (EBIT) ($million)	$490	$560	$630
Host country taxes paid	$63.7	$229.6	$195.3
Earnings before interest after taxes	$426.3	$330.4	$434.7

Midnight Motors' net US tax liability on its foreign earnings is closest to:

$437 million

$-52 million

$0 million

$489 million