Question 61 (7 points) Relative to local (foreign competition, foreign-source income is least valuable to a U.S.-based firm when the income is from a low-tax country and the firm has excess foreign tax credits the income is from a high-tax country and the firm has excess foreign tax credits the income is from a low-tax country and the firm has no excess foreign tax credits the income is from a high-tax country and the firm has no excess foreign tax credits None of the above