Problem 13-35 (LO. 4)

Kim, a U.S. citizen and resident, owns and operates a novelty goods business. During 2022, Kim reports taxable income of $115,000: $50,000 from foreign sources and $65,000 from U.S. sources. In calculating taxable income, the standard deduction is used. The income from foreign sources is subject to foreign income taxes of $17,500. For 2022, Kim files a joint return with her spouse.

Question Content Area

a. Assuming that Kim chooses to claim the foreign taxes as an income tax credit, what is her net Federal income tax payable for 2022? $________