Tax credits Au.S based MNC has a foreign subsidiary that eam $254,000 before local taxes, with all the after-tax funds to be available to the parent in the form of dividends. The applicable taxes consist of a 38% foreign income tax rate, a foreign dividend withholding tax rate of 9.6%, and a U.S. tax rate of 34% Calculate the net hunds available to the parent MNC # a. Foreign taxes can be applied as a credit against the MNCS U.S. tax liability b. No tax credits are allowed . I foreign taxes can be applied as a credit against the MNCH U.S. tax liability, the not fundo aylable to the U.S.company is $ (Round to the nearest dollar) b. If no tax credits are permitted, the not funds available to the US. company in (Round to the nearest dollar) Tax credits AUS-based MNC has a foreign subsidiary that earns $254.000 before local taxes, with all the worlax funds to be available to the parent in the form of dividends. The applicable taxes consist of a 38% foreign income tax rate, a foreign dividend witholding tax rate of 9.6%, and a US tax rate of 34% Calculate the net funds available to the parent MNC Foreign taxes can be applied as a credit against the MNC'S U.S. tax liability b. No tax credits are allowed. foreign taxes can be applied as a credit against the MNC's U.S. tax liability, the net funds available to the U.S. company is $(Round to the nearest dollar b. If no tax credits are permited, the net funds available to the U.S. company is $(Round to the nearest dollar.)