Use the following to answer questions 17 and 18 A Japanese branch of a U.S. corporation paid $4,200,000 in taxes to the government of Japan on income it generated there. The corporation is subject to a 35% tax rate in the U.S. 17 How much foreign tax credit can be taken in calculating the taxes owed to the U.S. on $10,000,000 of Japanese branch income? 18 How much tax will be owed to the U.S. government on the Japanese branch income