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Required information The following information applies to the questions displayed below. USCo manufactures and markets electrical components. USCo operates outside the United States through a

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Required information The following information applies to the questions displayed below. USCo manufactures and markets electrical components. USCo operates outside the United States through a number of CFCs, each of which is organized in a different country. These CFCs derived the following income for the current year. Determine the amount of income that USCo must report as a deemed dividend under subpart F in each scenario. (Leave no answer blank. Enter zero if applicable. Enter your answers in millions.) a. F1 has gross income of $5 million, including $200,000 of foreign personal holding company interest and $4.8 millon of gross income from the sale of inventory that F1 manufactured at a factory located within its home country Amount of income reported million

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