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Question 32. (12 points) Britta, Inc., a U.S. corporation, reports foreign-source income and pays foreign taxes as follows. Income Taxes Passive category $200,000 $10,000

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Question 32. (12 points) Britta, Inc., a U.S. corporation, reports foreign-source income and pays foreign taxes as follows. Income Taxes Passive category $200,000 $10,000 General limitation category 800,000 350,000 Britta's worldwide taxable income is $1,600,000 and U.S. taxes before FTC are $560,000 (assume a 35% tax rate). What is Britta's U.S. tax liability after the FTC? Answer: Clear All one 2 1 two

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