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USCo owns 100% of FORco, a foreign corporation. FORco earns $10 million of Subpart F income on which it pays country F tax at a

USCo owns 100% of FORco, a foreign corporation. FORco earns $10 million of Subpart F income on which it pays country F tax at a 15% rate. What is USCo's foreign tax credit limitation?

Question 21 options:

1)

$0.

2)

$2.1 million.

3)

$1 million.

4)

$1.89 million.

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