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 $117,600: $89,600 from U.S. operations and $28,000 from the Espania branch. Espania 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. Problem 24-53 Part-b (Algo) 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? Income 1