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) Richard has $30,000 of income from a country that imposes a 40 percent income tax and $30,000 of income from a country that imposes
) Richard has $30,000 of income from a country that imposes a 40 percent income tax and $30,000 of income from a country that imposes a 34 percent income tax. In addition to the foreign income, he has taxable income from U.S. sources of $120,000 and a U.S. tax liability, before credits, of $54,000. What is the amount of Richards foreign tax credit
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