Required information [The following information applies to the questions displayed below.] Sombrero Corporation, a U.S. corporation, operates through a branch in Espania. Management projects that the company's pretax income in the next taxable year will be $113,500: $87,200 from U.S. operations and $26,300 from the Espania branch. Espania taxes corporate income at a rate of 30 percent. a. If management's projections are accurate, what will be Sombrero's excess foreign tax credit in the next taxable year? Assume all of the income is general category income. (Do not round intermediate calculations.) Answer is complete but not entirely correct. Excess foreign tax credit $9,205 b. Management plans to establish a second branch in Italia. Italia taxes corporate income at a rate of 10 percent. What amount of income will the branch in Italia have to generate to eliminate the excess credit generated by the branch in Espania? (Do not round intermediate calculations. Round your final answer to the nearest whole dollar amount.) Income Chapeau Company, a U.S. corporation, operates through a branch in Champagnia. The source rules used by Champagnia are identical to those used by the United States. For 2018, Chapeau has $3,200 of gross income: $1,920 from U.S. sources and $1,280 from sources within Champagnia. The $1,920 of U.S. source income and $1,120 of the foreign source income are attributable to manufacturing activities in Champagnia (foreign branch income). The remaining $160 of foreign source income is passive category interest income. Chapeau had $800 of expenses other than taxes, all of which are allocated directly to manufacturing income ($320 of which is apportioned to foreign sources). Chapeau paid $198 of income taxes to Champagnia on its manufacturing income. The interest income was subject to a 10 percent withholding tax of $16. Compute Chapeau's total allowable foreign tax credit in 2018.(Do not round any division. Round other intermediate computations to the nearest whole dollar amount.) Total foreign tax credit