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Minden Corporation's records show the following results for its rst three years of operations: Year I Year 2 Your 3 US. source income 3 130.000

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Minden Corporation's records show the following results for its rst three years of operations: Year I Year 2 Your 3 US. source income 3 130.000 $ 350.000 $ 300.000 Foreign source income 92 000 500 000 630 000 Taxable income $ 2?2.000 $ 350.000 $ 1.480.000 Foreign tax paid $ [1000 $ 52.000 $ 31,600 In year 4. Minden generated $2 million taxable income {$900,000 of which was foreign source) and paid $310,000 foreign income tax. Assume Minden's foreign source income does not qualifyI as FDII. a. Compute Minden's U.S. tax for years 1.2. and 3. b. Compute Minden's U.S. tar. for year 4. e. Compute the refund generated by the carryback of the year 4 excess nal-I:i

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