Question 12 3.6 points Save Ar General Electric, a U.S. company, just sold jet engines to a British firm for GBP 10,000,000 when the exchange rate was USD1.55/ GBP with the payment due in 90 days. If the exporter does not hedge and the exchange rate in 90 days is USD1.59/GBP, the exporter would realize A transaction gain of USD 400,000 A transaction loss of USD 300,000 A transaction gain of USD 300,000 A transaction loss of GBP 300,000 A transaction gain of GBP 300,000 Save Answer Question 13 3.6 points Trident Solar Technologies (TST) is the wholly-owned Taiwanese subsidiary of United Renewable Energy (URE) Inc., a U.S. firm. Last year, TST had $3,000,000 of taxable income and remitted 100% of the after-tax income to URE as dividends. The corporate tax rate in Taiwan was 25%, and the foreign withholding tax rate on dividends was 107. The corporate tax rate for the parent company in the U.S. was 30%. Calculate the tax liability and the excess foreign tax credit for URE, the U.S.parent company. The U.S. parent had a tax liability of $75,000 to the US government, it was not entitled to excess foreign tax credit The U.S.parent had a tax liability of $50,000 to the US government, it was not entitled to excess foreign tax credit The U.S. parent had no tax liability to the US government, it was entitled to $75,000 excess foreign tax credit The U.S. parent had no tax liability to the U.S. government, it was entitled to $25.000 excess foreign tax credit The U.S.parent had no tax liability to the US government, it was entitled to $100,000 excess foreign tax credit