Multiple Choice 7-18 Foreign Exclusion and Tax Credit (LO 7.6) Taxpayer L has income of $55,000 from Norway, which imposes a 40 percent income tax, and income of $45,000 f from France, which imposes a 30 percent irn come tax. L has additional taxable income from U.s. sources of s200,000 and U.S. tax liability before credits of $105,000. What is the amount of the foreign tax credit? Do not round any division in your computations. If required, round your answer to the n a. $100,000 b. $45,000 c. $35,000 d. $16,500 e. $35,500