Sombrero Corporation, a U.S. corporation, operates through a branch In Espanla. Management projects that the company's pretax Income in the next taxable year will be $111,100 : $83,600 from U.S. operatlons and $27,500 from the Espanla branch. Espanla taxes corporate Income at a rate of 30 percent. Note: Do not round intermediate calculations. Round your final answer to the nearest whole dollar amount. Required: 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 foreign branch Income. b. Management plans to establish a second branch in Italla. Italla 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 Espanla? Answer is not complete. Complete this question by entering your answers in the tabs below. If management's projections are accurate, what will be Sombrero's excess foreign tax credit in the next taxab all of the income is foreign branch income. 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