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Miramontes Corp. is a multinational U.S. company. deriving royalty income from worldwide operations. During the year, Miramontes received $100 million in royalty for use of

Miramontes Corp. is a multinational U.S. company. deriving royalty income from worldwide operations. During the year, Miramontes received $100 million in royalty for use of its technology from China. Is this royalty income U.S. Source or foreign source?

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